The growth rate of business activity in the service sector slowed down in January – Kommersant
[ad_1]
The business activity index (PMI) in the Russian service sector in January amounted to 55.8 points. In December 2023, it was at 56.2 points.
A PMI value above 50 points indicates growth in economic activity, below – a decline. Business activity research is conducted by S&P Global (.pdf).
Activity in the services sector showed growth for the 12th month in a row, the report said. The increase in production volume was facilitated by a sharp increase in new orders and an increase in the number of new foreign enterprises in the country.
S&P Global notes that supplier costs have increased markedly, despite inflation falling to a seven-month low. Among other things, electricity costs, wages and general price increases have increased.
Output expectations rose to their highest level since April 2019, the report said. The companies also said their optimism was bolstered by an increase in new customers.
Read more about business activity in Russia in the Kommersant article “The decline in business activity has affected the labor market”.
[ad_2]
Source link
