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.

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Russia Services PMI



Related Last Previous Unit Reference
Services PMI 48.70 45.90 points Jan 2023
Manufacturing PMI 52.60 53.00 points Jan 2023
Composite PMI 49.70 48.00 points Jan 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
48.70 45.90 58.50 12.20 2010 - 2023 points Monthly

News Stream
Russian Services Sector Continues to Shrink
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.
2023-02-03
Russia Services Sector Shrinks for 3rd Month
The S&P Global Russia Services PMI declined to 45.9 in December 2022 from 48.3 in November. The reading pointed to the third straight month of contraction in the sector, amid a faster decline in both output and new orders, as domestic and foreign client demand deteriorated. Meanwhile, employment declined at the steepest pace since May, with backlogs of work decreasing sharply. On the pricing front, input cost inflation eased to a three-month low, while output cost inflation accelerated to the fastest pace since September, as firms sought to pass through higher costs to customers. Lastly, sentiment returned to a negative, amid global economic uncertainty and the impact of inflation on customer purchasing power.
2022-12-30
Russia Services Sector Shrinks at Softer Pace
The S&P Global Russia Services PMI increased to 48.3 in November 2022 from October’s 7-month low of 43.7. The reading pointed to the second straight month of contraction in the sector, amid a softer decline in both output and new orders, as some firms noted the acquisition of new customers. Meanwhile, employment declined, with backlogs of work decreasing at a solid pace. On the pricing front, input cost inflation eased fractionally, while output cost inflation slowed to the softest pace since February 2021. Lastly, sentiment returned to a positive, due to hopes of greater client demand and a reduction in competition.
2022-12-05