S&P Global: Russia's Services PMI falls to 54.3 in May
MOSCOW, Jun 5 (PRIME) -- Russia's seasonally adjusted Services Purchasing Managers' Index (PMI) decreased to 54.3 in May from 55.9 in April, above the 50 no-change mark, which means an overall expansion, research agency S&P Global said on Monday.
"The solid upturn in output was driven by another increase in new business as firms noted new client wins and strength in foreign markets... Despite greater workforce numbers, pressure on capacity was evident as backlogs of work returned to growth territory, albeit rising only fractionally," the researchers said.
The new orders rise decreased for a second consecutive month and was the slowest in four months. At the same time, export orders demonstrated a solid increase.
The input prices increased steeply, while the output price growth was milder.
The future outlook deteriorated to its worst in four months, while the companies remained quite optimistic overall.