The S&P Global Russia Services PMI increased to 48.7 in January 2023 from 45.9 in December 2022. The reading pointed to the fourth straight month of contraction in the sector, amid reports of muted client demand and the loss of customers following reduced purchasing power. That said, the rate of contraction slowed and was the softest in the current four-month sequence of decline. New orders continued to drop, with the rate of decline in new export business being strong and faster than the long-run series average. Meanwhile, the rate of job shedding was only marginal, however, and the slowest since last September. On the pricing front, input cost inflation accelerated to the fastest since August, due to higher prices of utility, supplier and wage bills. Meanwhile, output cost inflation eased and was one of the slowest for two years, amid weak demand conditions and strong competition. Lastly, sentiment returned to a positive, amid hopes of success in boosting new orders source: Markit Economics
Services PMI in Russia averaged 51.76 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 February of 2023.
Services PMI in Russia is expected to be 48.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.