Markit: Russia’s Services PMI rises to 54.7 in Nov from 52.7 in Oct

MOSCOW, Dec 5 (PRIME) -- The Purchasing Managers’ Index (PMI) in the Russian services sector rose for a tenth month in a row and amounted to 54.7 in November against 52.7 in October, which means an overall expansion of the sector, consulting company IHS Markit said in a report on Monday.

Samuel Agass, an economist at IHS Markit, said that service providers did not reach the growth pace of the manufacturing sector. “However, November’s survey data still highlighted a number of positives for service providers, including quicker expansions of new work, outstanding business and historically subdued inflationary pressures,” he said.

The sector continued shedding jobs, although the trend weakened.

Russia’s Composite PMI rose to a four-year high of 55.8 in the reported period.

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