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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
RussiaRussia Markit Services PMI climbed to 53.8 in June 2016
FMPMonthlyReleased July 2016
Russia Markit Services PMI climbed to 53.8 in June 2016, released July 2016, up 2 from May's 51.8 reading. The reading matched the 52.2 consensus. The print is running well above the 12-month average of 50.31. Over the past 3 months, Markit Services PMI averaged 53, vs 50 in the prior 3-month window.
Latest Release
53.8
Actual
52.2
Consensus
51.8
Previous
Median Absolute Error
±1.2
across last 5 releases
Last Call
Jul 2016
Predicted: 54.3
Actual: 53.8
Error: +0.5
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Markit Services PMI (Russia) was reported at 52.10 in March 2022. The reading rose from the previous value of 49.80.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 50.47, up from the prior three at 48.80.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Gross Domestic Product YoY (Jun 17) and Interest Rate Decision (Jun 19).
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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Markit Services PMI - RU
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About Markit Services PMI — Russia
DEFINITION
Markit Services PMI is a widely recognized financial indicator that measures the performance of the services sector in an economy. It provides valuable insights into the health and growth of the services industry by tracking changes in business activity, new orders, employment, and prices. This data is collected through surveys of purchasing managers in various service-based companies, making it a reliable and timely indicator of economic trends. Markit Services PMI is used by investors, businesses, and policymakers to make informed decisions and assess the overall economic outlook.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Feb 2022): actual 52.1. Prior reading (Jan 2022): 49.8. Before that (Dec 2021): 49.5.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection.