Markit: Russia’s Services PMI falls to 56.8 in December

MOSCOW, Dec 29 (PRIME) -- Russia’s Services Purchasing Managers’ Index (PMI) fell to 56.8 in December from 57.4 in November, research company Markit said in a report on Friday.

“The IHS Markit Russia Services Business Activity Index – a single-figure measure designed to track changes in total Russian services activity – posted 56.8 in December, down from 57.4 in November. The latest index reading indicated steep, but softer growth in business activity across the Russian service sector,” the research said.

The HIS Markit Russia Composite Output Index, that covers both manufacturing and services, decreased to 56.0 in December from 56.3 in November.

Growth in new business softened, but was strong and above the long-run series average. Employment rose solidly and at the second-quickest rate since May 2013.

“December survey data indicated a steep expansion in business activity across the Russian service sector, the second-fastest rise since January. Moreover, the average for the final quarter of 2017 signaled a strong end to the year with growth picking up following a slight dip in the third quarter,” the researcher said quoting Economist Sian Jones as saying. “Composite new order growth was strong in December, with the fourth quarter average signaling the fastest expansion since late-2012.”

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