Markit: Russia’s Services PMI falls to 53.7 points in March

MOSCOW, Apr 4 (PRIME) -- Russia’s Services Purchasing Managers’ Index (PMI) fell to 53.7 points in March from 56.5 points in February, researcher Markit said in a statement on Wednesday.

The index was above the 50 no-change mark, which signified an overall expansion.

“Although the rate of business activity growth softened to an eight-month low, it was solid nonetheless. Moreover, the average over the opening three months of 2018 was strong overall. A number of panel members attributed the rise in output levels to the acquisition of new clients and increased customer activity,” the statement read.

Markit’s Russia Composite Output Index that covers both manufacturing and services sectors fell to 53.2 points in March from 55.2 in February. “The latest overall rise in output was the joint-weakest since September 2016, with both manufacturers and service providers indicating a slower expansion,” Markit said.

For further details, see the researcher’s statement on its official website:

https://www.markiteconomics.com/Survey/PressRelease.mvc/fc6f0cf04a8f470bb1f3486bdcf0e392

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