Markit says Russia's Services PMI falls to 49.3 in August

MOSCOW, Sep 3 (PRIME) -- Russia's Services Purchasing Managers' Index (PMI) fell to 49.3 in August from 53.5 in July, sliding below the 50 no-change mark, which signals an overall deterioration of activity in the sector, researcher IHS Markit said in a statement on Friday.

"Russian service providers signaled more challenging demand conditions during August, with business activity contracting as a result. Pressure on capacity eased further, leading firms to reduce their workforce numbers after a six-month period of job creation," Economist Sian Jones was quoted as saying.

Customer demand was reported at approximately the level of July, while new export orders grew. Cost inflation fell of a seven-month low, the sales price increase eased. Pressure on capacity eased, and companies were reluctant in raising the number of jobs. The outlook of business representatives on the future of their businesses deteriorated.

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