Russia Services PMI2010-2021 Data | 2022-2023 Forecast | Calendar | Historical

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.

The IHS Markit Russia Services PMI declined slightly to 48.0 in December 2020 from 48.2 in the previous month. The latest reading marked the third monthly contraction in the sector. New business shrank for the third straight month, as subdues customer demand and a drop in purchasing power among clients. Meanwhile, new orders from abroad continued to fall, with new export orders eased from that seen in November. As a result, pressure on capacity remained subdued, and backlogs of work continued to be depleted in December, albeit at the slowest pace for three months. On the price front, input cost inflation accelerated to the second fastest since March, due to a rise in prices from the supplier and unfavourable exchange rate movements. Meanwhile, output charges increased solidly and quickened to the fastest since April 2019. Finally, business morale improved to a four-month high, due to hopes of an end to the pandemic.

The IHS Markit Russia Services PMI increased to 48.2 in November 2020 from 46.9 in the previous month. Still, the latest reading marked the second monthly contraction in the sector, amid resurgence in coronavirus disease. New business shrank for the second straight month, as subdues customer demand weighed on total sales. Meanwhile, new orders from abroad continued to fall, with new export orders falling at a sharp rate that was the fastest since May. As a result, pressure on capacity remained subdued, and firms reduced their workforce numbers for the third successive month. On the price front, input cost inflation accelerated to the steepest since January 2019, due to a rise in wages and additional business costs associated with making the workplace COVID-19 safe. Meanwhile, output charges increased solidly and quickened slightly to the fastest since March. Finally, business morale improved, due to hopes of an end to the pandemic and an uptick in client demand.

The IHS Markit Russia Services PMI declined to 46.9 in October 2020 from 53.7 in the previous month, signalling a renewed contraction in the sector, after three months expansion, amid resurgence in coronavirus disease. New business shrank for the first time since June and the steepest drop since May, driven by weaker demand. Meanwhile, new orders from abroad continued to fall, as key export destinations also reimposed tighter virus-related measures, with new export orders falling at a sharp rate that was the fastest for three months. As a result, pressure on capacity remained subdued, and firms reduced their workforce numbers further and at the fastest pace since June. On the price front, input cost inflation accelerated, following unfavorable exchange rate movements. Meanwhile, output charges increased solidly, despite easing slightly from that seen in September. Finally, business morale weakened to a five-month low, amid concerns regarding the longevity of any economic recovery.