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BRIC Services PMIs: Poor Performance In January

BRIC PMIs for January are continuing to show divergence in growth across the four economies. I have covered manufacturing sector trends here.

Now, let's take a look at Services PMIs:

  • Brazil Services PMI fell to 48.4 in January from 49.1 in December signalling deeper contraction and marking fourth consecutive month of sub-50 readings. Current 3mo average is at 48.7, and this compares poorly to the already contractionary 49.7 3mo average through October 2014. January 2014 3mo average was 51.2.
  • Russian Services PMI dropped significantly from already poor reading of 45.8 in December to strongly contractionary 43.9 in January. 3mo average through January 2015 is at 44.7, and this compares unfavourably to 3mo average through October 2014 at 49.5. We now have 4 consecutive months of sub-50 readings in the series. 3mo average through January 2014 was 52.2. Overall, substantial decline in Services activity as signalled by the PMI reading.