The S&P Global Russia Services PMI declined to 54 in July 2023 from June’s three-month high of 56.8. The reading pointed to the sixth straight month of expansion in the sectors, but the softest pace since February as new orders growth slowed, with new export business a near-stagnation. As a result, firms left their workforce numbers broadly unchanged during July and ended a five-month sequence of job creation. On the pricing front, input cost inflation accelerated to a six-month high as the depreciation of the ruble against the dollar reportedly pushed up imported goods prices. Meanwhile, output cost inflation rose to the fastest since May 2022 as service providers sought to pass through a higher cost burden to customers. Finally, business sentiment remained optimistic amid plans for investment in developing new product lines and reaching out to potential new clients. source: Markit Economics

Services PMI in Russia averaged 51.90 points from 2010 until 2023, reaching an all time high of 58.50 points in July of 2020 and a record low of 12.20 points in April of 2020. This page provides the latest reported value for - Russia Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Russia Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Services PMI in Russia is expected to be 50.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Services PMI is projected to trend around 54.20 points in 2024 and 52.30 points in 2025, according to our econometric models.

Ok
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
Width
Height
 Preview

Russia Services PMI



Related Last Previous Unit Reference
Services PMI 54.00 56.80 points Jul 2023
Manufacturing PMI 52.10 52.60 points Jul 2023
Composite PMI 53.30 55.80 points Jul 2023

Russia Services PMI
The Markit Russia Services PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 300 private service sector companies. The Index tracks variables such as sales, employment, inventories and prices. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
54.00 56.80 58.50 12.20 2010 - 2023 points Monthly

News Stream
Russia Services PMI Drops to 5-Month Low
The S&P Global Russia Services PMI declined to 54 in July 2023 from June’s three-month high of 56.8. The reading pointed to the sixth straight month of expansion in the sectors, but the softest pace since February as new orders growth slowed, with new export business a near-stagnation. As a result, firms left their workforce numbers broadly unchanged during July and ended a five-month sequence of job creation. On the pricing front, input cost inflation accelerated to a six-month high as the depreciation of the ruble against the dollar reportedly pushed up imported goods prices. Meanwhile, output cost inflation rose to the fastest since May 2022 as service providers sought to pass through a higher cost burden to customers. Finally, business sentiment remained optimistic amid plans for investment in developing new product lines and reaching out to potential new clients.
2023-08-03
Russia Services PMI Rises to 3-Month High
The S&P Global Russia Services PMI increased to a three-month high of 56.8 in June 2023 from May’s three-month low of 54.3. It was the fifth straight month of expansion in the sectors and one that was the second-fastest since May 2021, boosted by stronger demand conditions and greater customer interest. New orders rose to the fastest since March, with export orders growing at the steepest rate in over four years. As a result, employment rose to the fastest pace in over 12 years, while backlogs of work rose at the sharpest since March. On the pricing front, input cost inflation accelerated to the fastest since February, while output cost inflation rose to the highest since September 2022 as service providers sought to protect margins. Finally, business sentiment strengthened close to April's nine-month high amid hopes of greater client demand.
2023-07-05
Russia Services PMI Falls to 3-Month Low
The S&P Global Russia Services PMI declined to a three-month low of 54.3 in May 2023 from 55.9 in the previous period. It was the fourth straight month of expansion in the sector driven by another increase in new business as firms noted renewed rise in new export orders. The sustained rise in new orders led firms to expand employment, which grew at the second-fastest pace since June 2021. On the pricing front, input cost inflation slowed to the second-weakest since January 2021, while output cost inflation moderated amid efforts by firms to remain competitive and drive new sales. Finally, business sentiment deteriorated to a four-month low and was only modest in the context of the series' history. However, sentiment remained upbeat amid hopes of further upticks in demand and planned investment in marketing.
2023-06-05