The IHS Markit Russia Services PMI increased sharply to 52.7 in January 2021 from 48.0 in the previous month. The latest reading marked the first monthly expansion in the sector since last September, as both output and new orders returned to growth. New export orders, however, fell once again, albeit at the slowest rate since last August. Meantime, the job shedding eased to the slowest in the current five-month sequence, as pressure on capacity built, while the backlogs of work rose for the first time since November 2017 following a renewed rise in new order inflows. On the price front, input cost inflation eased for the second straight month, due to a rise in prices from the supplier, fuel, and unfavourable exchange rate movements. Also, output charges inflation slowed to a 6-month low. Finally, business morale improved to the highest since October 2019, due to hopes of an end to the COVID-19 pandemic and social-distancing measures. source: Markit Economics
Services PMI in Russia averaged 52.09 points from 2010 until 2021, 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 March of 2021.
Services PMI in Russia is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Russia to stand at 52.30 in 12 months time. In the long-term, the Russia Services PMI is projected to trend around 52.30 points in 2022 and 54.50 points in 2023, according to our econometric models.