Russia’s Services PMI at 56.5 in December, 49 month high

MOSCOW, Dec 30 (PRIME) -- Russia’s Services PMI (purchasing managers’ index) grew to 56.5 in December from 54.7 in November, hitting a 49-month high, researcher IHS Markit said in a report on Friday.

The index stood above the 50 no-change mark, which means an overall expansion of the sector.

As a result, the Composite PMI grew to 56.6 in December from 55.8 in November.

The service sector’s rise was prompted by strengthening growth of new orders and a slight accumulation of unfinished works. The number of jobs continued to stabilize. The input prices rose at a sharper pace than the output ones.

“Supported by a faster increase in new business orders, service providers registered a marked rise in output and at a rate that continued to outstrip its historical average,” Samuel Agass, economist at IHS Markit, said.

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