The IHS Markit Russia Services PMI declined to 53.7 in September 2020 from 58.2 in the previous month, indicating a further, albeit slower, expansion in business activity. New business growth slowed to a three-month low, but was solid overall, while business from abroad fell for the seventh month running. At the same time, firms reduced their workforce numbers amid sufficient capacity to process new business. On the price front, input cost inflation was unchanged and sharp overall, due to a rise in utility and supplier costs, alongside unfavorable exchange rate movements. Meanwhile, output charges increased solidly, and at the fastest rate since March. Finally, business morale dropped to a three-month low and was historically subdued, amid concerns regarding the longevity of any economic recovery.
Services PMI in Russia averaged 52.19 points from 2010 until 2020, 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 October of 2020. source: Markit Economics
Services PMI in Russia is expected to be 56.50 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 53.00 in 12 months time. In the long-term, the Russia Services PMI is projected to trend around 52.30 points in 2021 and 54.50 points in 2022, according to our econometric models.