Markit says Russia's Services PMI falls to 56.5 in June

MOSCOW, Jul 5 (PRIME) -- Russia's Services Purchasing Managers' Index (PMI) fell to 56.5 in June from 57.5 in May, staying above the 50 no-change mark, which signals an overall expansion of activity in the sector, researcher IHS Markit said in a statement on Monday.

"Russian service providers signaled a slight loss of growth momentum during June, as expansions in output and new orders slowed. Nonetheless, rates of increase in activity and new sales remained historically elevated," Economist Sian Jones was quoted as saying.

The growth was the second fastest since August 2020, albeit decelerating as compared with May. New export orders increased at the highest rate in about two years. Hiring grew at the fastest pace since May 2011. Business confidence was at a peak since May 2019. Inflationary pressures remained higher than average. 

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