Russia's services sector nears stagnation in October, PMI shows

Russia’s Services Sector Growth Stalls in October, PMI Hits 50.1

Overview of Russia's Services Sector Performance in October

PMI Index and Output Trends

MOSCOW, Nov 5 (Reuters) - Russia's services sector nearly stalled in October as output rose only fractionally and new orders fell for the first time in three months, a business survey showed on Thursday.

S&P Global Russia Services PMI Business Activity Index

• The S&P Global Russia Services PMI Business Activity Index fell to 50.1 in October from 51.3 in September. The 50-point mark separates growth from contraction

Demand and Orders Analysis

New Business and Export Demand

• New business fell for the first time in three months, while export demand declined sharply at a faster pace. S&P Global said the drop in international demand was the third-steepest since December 2022

Employment and Backlog Developments

Job Market Trends

• Employment returned to growth after eight months of job shedding, although the rate of hiring was marginal. Outstanding business fell again, the sixth decline in the past seven months, as weaker inflows allowed firms to work through earlier orders

Inflation and Price Pressures

Input Costs and Selling Prices

• Price pressures intensified during the month. Input cost inflation accelerated for the first time in three months, while firms raised selling charges at the fastest rate in eight months to pass on part of those higher costs

Business Confidence and Outlook

Sentiment and Expectations

Trends in Business Confidence

• Business confidence softened for a second straight month in October. Sentiment was below the average seen in 2026 so far and remained much weaker than the historical trend, as economic uncertainty weighed on expectations

(Reporting by Gleb Bryanski; Editing by Joe Bavier)