Russia Services PMI growing to 57.6 points in August
It is noted that the latest data evidence a dramatic increase in the business activity in the Russian services sector.
The Purchasing Managers Index (PMI) in the Russian services sector moved up from 54 points in July to 57.6 points in August, S&P Global said in its research.
The index value above 50 points evidences an increase in the business activity and the value below such level means it is slowing down.
The latest data evidence a dramatic increase in the business activity in the Russian services sector, the research says.
"Growth in business activity was steep overall, and supported by the quickest rise in new orders for just over three years, which was often linked to a boost to domestic client demand. New export business also increased, albeit at only a marginal pace. Pressure on capacity following stronger new order growth led to a record rise in backlogs of work. Strain on capacity was felt despite a renewed increase in employment, with job creation solid overall," analysts say.
Source
The Purchasing Managers Index (PMI) in the Russian services sector moved up from 54 points in July to 57.6 points in August, S&P Global said in its research.
The index value above 50 points evidences an increase in the business activity and the value below such level means it is slowing down.
The latest data evidence a dramatic increase in the business activity in the Russian services sector, the research says.
"Growth in business activity was steep overall, and supported by the quickest rise in new orders for just over three years, which was often linked to a boost to domestic client demand. New export business also increased, albeit at only a marginal pace. Pressure on capacity following stronger new order growth led to a record rise in backlogs of work. Strain on capacity was felt despite a renewed increase in employment, with job creation solid overall," analysts say.
Source