Markit: Russia’s Services PMI falls to 53 in September

MOSCOW, Oct 5 (PRIME) -- The Purchasing Managers’ Index (PMI) in the Russian services sector decreased to 53 in September from 53.5 in August, according to a Markit research note published Wednesday.

The index remained above the 50 mark signaling an overall stagnation of the sector.

“Weaker rises in both new business and unfinished work were reported while job cuts were evident for the first time since June. Inflationary pressures weakened during the month, as both input cost and output prices rose at slower rates,” Markit said.

“Russia’s service providers ended the third quarter on a weaker footing, as business activity growth eased to a four-month low during September. However, the average through the third quarter was still solid and capped off the strongest quarterly upturn in the sector for just over three years,” Samuel Agass, an economist at Markit, said.

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