Markit: Russia’s Services PMI falls to 56.1 Apr from 56.6 Mar

MOSCOW, May 4 (PRIME) -- Russia’s Services Purchasing Managers' index (PMI) decreased to 56.1 in April from 56.6 in March but still demonstrated a significant growth of the sector, researcher IHS Markit said in a report on Thursday.

The Composite PMI decreased to 55.3 in April from 56.3 in March.

New orders in the services industry grew strongly, both input and output costs increased.

Markit economist Sian Jones said: “Business activity in the Russian service sector increased at a marked rate in April. Both activity and new orders grew for the fifteenth month running signaling strong demand. That said, outstanding business contracted for the first time since last June. Meanwhile, price pressures in the service sector picked up. Input prices rose at the fastest pace in four months and output prices rose at the fastest pace since last June.”

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