---
source: S&P Global
url: https://www.finanznachrichten.de/nachrichten-2026-03/67849900-russia-service-sector-growth-eases-in-february-020.htm
document_type: html
date_retrieved: 2026-03-17
period: February 2026
parent_publication: S&P Global Services PMI - Russia
indicators_covered: [Services PMI, New Orders, Employment, Input/Output Prices, Output Expectations, Composite Output Index]
data_points:
  services_pmi_february: 51.3
  services_pmi_january: 53.1
  composite_output_index_february: 50.8
  composite_output_index_january: 52.1
---

# S&P Global Services PMI — Russia, February 2026

## Overview

Russia's service sector activity expanded at the slowest pace in five months in February, according to survey results from S&P Global released on 4 March 2026. The services purchasing managers' index (PMI) declined to 51.3 from 53.1 in January, signaling a continued expansion but at a notably reduced rate.

## Key Indicators

### Services PMI

**February 2026:** 51.3  
**January 2026:** 53.1  
**Interpretation:** A score above 50 indicates expansion in the sector. The five-month low reflects deceleration in service sector growth momentum.

### New Orders

New orders increased for the fourth successive month, driven by further improvement in client demand. However, the rate of growth eased to a three-month low, suggesting weakening demand dynamics relative to recent months.

### Employment

Employment experienced a renewed decline as voluntary leavers were often not replaced. Notably, the rate of job shedding remained only marginal, indicating the employment contraction was limited in scale.

### Capacity Pressures & Inventory Accumulation

The overall upturn in new orders resulted in capacity pressures. The rate of inventory accumulation reached its strongest level since December 2024, reflecting firms rebuilding stocks amid demand recovery.

### Price Pressures

**Input Prices:** Input price inflation eased from January's two-year high, though it remained the second-fastest rate since early 2025. Higher costs for fuel and utilities continued to drive inflationary pressures.

**Output Prices:** Selling price inflation accelerated to the second-fastest pace since October 2023, as service providers passed through rising input costs to customers.

### Output Expectations & Business Sentiment

Output expectations over the next year weakened significantly. The degree of business sentiment dropped to its lowest level since December 2022, driven by concerns about escalating costs. This marks a sharp deterioration in forward-looking confidence.

## Composite Output Index

**February 2026:** 50.8  
**January 2026:** 52.1  

The composite output index—which combines services and manufacturing activity—fell to 50.8, reflecting only marginal overall growth in Russia's private sector. The decline was driven by slower growth in services output coupled with a contraction in manufacturing production, both weighing on the broader expansion narrative.

## Context & Methodology

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 survey tracks variables including sales, employment, inventories, and prices. An index reading above 50 indicates an overall increase in the measured variable; below 50 indicates a decrease.

This report represents the headline PMI data published under license from S&P Global. Full historic PMI headline data and all other PMI sub-index data are available on subscription from S&P Global. For more information, contact economics@spglobal.com.

---

**Source:** S&P Global / dpa-AFX News  
**Release Date:** 4 March 2026  
**Data Period:** February 2026