Russia PMI October 2023

Russia: Services PMI decreases in October

The S&P Global Russia Services PMI Business Activity Index fell to 53.6 in October from September’s 55.4. October’s result marked the weakest reading since February. As a result, the index remained above the 50.0 no-change mark, pointing to a moderating improvement in services sector operating conditions from the previous month.

The loss of momentum came on the back of a slowdown in output growth which was the softest in eight months. That said, the overall expansion remained healthy, mostly thanks to a surge in new export orders, which grew at the second-fastest pace on record in October. Meanwhile, business confidence jumped to an over four-year high, prompting firms to accelerate hiring. Lastly, inflationary pressures remained elevated in October, although both input costs and output charges rose at a softer pace compared to the previous month.

Meanwhile, the S&P Global Composite Output Index fell to 53.6 in October from September’s 54.7.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest