S&P Global: Russia’s Services PMI rises to 51.7 in June

MOSCOW, Jul 5 (PRIME) -- Russia’s Services Purchasing Managers’ Index (PMI) grew to 51.7 in June from 48.5 in May, rising above the 50-point no-change mark, research agency S&P Global said in a statement on Tuesday.

"Service sector firms in Russia registered a return to growth in business activity during June, according to the latest PMI data. Output rose marginally, as new orders increased for the first time in nine months and at the fastest pace for a year,” the researchers said

“Client demand was supported by domestic customers, with new export orders continuing to contract. At the same time, output expectations regarding the year-ahead outlook strengthened to their highest since February. Companies continued to reduce their workforce numbers, albeit at a slower pace, amid a further fall in backlogs of work.”

Researcher Markit recently joined S&P Global, before that the index was called IHS Markit PMI.

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