S&P Global: Russia's Services PMI falls to 54 in July

MOSCOW, Aug 3 (PRIME) -- Russia's seasonally adjusted Services Purchasing Managers' Index (PMI) decreased to 54.0 in July from 56.8 in June, above the 50 no-change mark, which means an overall expansion, research agency S&P Global said on Thursday.

"Greater output was supported by a further rise in new business amid sustained client demand. That said, rates of growth for both output and new business eased from June. Dampening the upturn in total new orders were broadly stagnant new export sales, as foreign client demand softened," the researchers said.

New orders increased at a significantly slower rate in July than in June. The dynamics of new export orders almost stagnated. Both input and output charges accelerated the growth on the back of a weakening of the ruble. As a result, the employment changed marginally, and the backlogs decreased for the first time since April.

The panelists had a positive outlook on the coming year.

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