S&P Global: Russia's Services PMI rises to 56.8 in June

MOSCOW, Jul 5 (PRIME) -- Russia's seasonally adjusted Services Purchasing Managers' Index (PMI) increased to 56.8 in June from 54.3 in May, above the 50 no-change mark, which means an overall expansion, research agency S&P Global said on Wednesday.

"The rise in output was supported by stronger demand conditions and greater customer interest. The upturn in new orders accelerated, as the domestic and external demand environment proved more accommodating," the researchers said.

New orders increased for a fifth month in a row, and the rate was the fastest since March. New export orders expanded at the fastest pace in four years. As a result, the employment growth rate was the fastest since May 2011. Input costs grew the fastest since February, output costs added the fastest since September 2022.

The panelists had a positive outlook on the coming year.

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