Markit says RussiaТs Services PMI rises to 55.8 in October - Business Wire - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Markit says RussiaТs Services PMI rises to 55.8 in October

MOSCOW, Nov 6 (PRIME) -- RussiaТs Services purchasing managersТ index (PMI) rose to 55.8 in October from 53.6 in September, above the 50 no-change mark, signaling a strong expansion in business activity across the service sector, largely underpinned by a sharper upturn in new orders, researcher IHS Markit said on Wednesday.

The Composite PMI increased to 53.3 in October from 51.4 in September.

УRussian service sector output strengthened further in October, with business activity rising at the sharpest pace for a year and new orders increasing strongly. Greater demand was seen both domestically and externally as new business from abroad expanded at a solid pace,Ф Sian Jones, economist at Markit, said.

"At the composite level, a stronger performance across the service sector underpinned overall business activity growth as manufacturing sector output remained in contraction. Meanwhile, historically subdued increases in costs and charges supported recent moves towards stimulus by Russia's central bank, amid a larger than expected reduction in interest rates in October," the official said.

Inflationary pressures remained historically muted, despite a slightly faster increase in output charges.

Service providers registered a second successive rise in employment in October. The rate of job creation quickened to a moderate pace that was the fastest since February. Firms noted that greater workforce numbers reflected increased business requirements and company expansions.

On the price front, cost burdens increased at a relatively subdued rate in October. The pace of input price inflation slowed to the softest since early-2018.

Business activity expectations strengthened in October amid new client acquisitions and the development of new service lines. The level of positive sentiment reached a five-month high but remained slightly below the series average.


06.11.2019 10:02
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 76.6243 -0.1539 04 jun
USD 68.3413 -0.6418 04 jun
Stock Market Indices
1D 1W 1M 1Y
rtsi 1277.14 -1.90 10:30 04 jun
micex 2800.70 -1.07 10:29 04 jun
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 207.99 0.00 09:59 04 jun
lkoh 5530.50 -0.34 09:59 04 jun
rosn 397.00 +0.01 09:59 04 jun
sber 220.67 -0.37 09:59 04 jun
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 77.0750 +0.3000 14:59 04 jun
USDTD 68.7375 +0.0350 17:44 04 jun