Markit: Russia’s Services PMI rises to 57.4 in November

MOSCOW, Dec 5 (PRIME) -- Russia’s Services Purchasing Managers’ Index (PMI) rose to 57.4 in November from 53.9 in October, research company Markit said in a report on Tuesday.

“The latest index reading indicated steep growth in business activity across the sector that was the second-quickest since May 2011. Anecdotal evidence linked the rise in output to stronger client demand and greater new order volumes,” Markit said.

The HIS Markit Russia Composite Output Index, that covers both manufacturing and services, rose to 56.3 in November from 53.2 in October.

“November PMI data signaled steep growth in business activity across the Russian service sector, with the expansion accelerating to reach a ten-month high. The upturn in new business also quickened to a sharp rate that was the fastest for the best part of a decade. Overall, the HIS Markit Russia Composite Output Index indicated a stronger increase across both manufacturing and service sector firms, with growth in the latest survey period at an eight-month peak,” the researcher said quoting Economist Sian Jones as saying.

For further details, see the company’s report on its official Web site:

https://www.markiteconomics.com/Survey/PressRelease.mvc/9d5dceb3bb8840698f1d48e8782b586e

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