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Russia's Services PMI reaching 56.8 points in June — research

The latest data evidence a dramatic increase in production volumes among service providers, the research says

MOSCOW, July 5. /TASS/. The Purchasing Managers Index (PMI) in the Russian services sector moved up from 54.3 points in May to 56.8 points in June, 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 production volumes among service providers, the research says. The demand growth and the high interest of clients contributed to the rise of the business activity, according to the research. New orders are growing for the fifth month in succession, and the growth rate in June became the highest since March 2023.

An increase in new orders provided suppliers with an opportunity to expand the headcount in June, S&P Global analysts noted. The employment rate growth was the highest since May 2011.