Business activity in Russia rose after falling in October
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The business activity index (PMI) in the service sector of Russia increased to 48.3 points in November, follows from S&P Global data. In October, the PMI sharply fell to 43.7 points, which was a seven-month low. Composite PMI rose to 50 points after 45.8, manufacturing business activity index in Russia in November increased to 53.2 points from 50.7 in October.
An index value of less than 50 points indicates a decline in business activity in the country, and above 50 indicates growth.
S&P believes the data suggests “a softer decline in both output and new orders” as well as a decline in employment. “As far as pricing is concerned, input cost inflation has eased a little,” says the message companies.
S&P Global also associated the sharp decline in business activity in the service sector in October with weak demand and a reduction in the customer base due to sanctions. Also last month decreased business activity in the Russian manufacturing sector.
On the economic forecast for 2023-2024 – in the material “Kommersant” “Severe, profitable, slow”.
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