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Russian services PMI index down to 52.2 points in November

According to S&P Global analytical agency, new export orders rose at a marked pace

MOSCOW, December 5. /TASS/. Russia’s Services PMI Business Activity Index fell to 52.2 points in November 2023 from 53.6 points in the previous month, S&P Global analytical agency reported.

"The index retreated further from August's recent high and signaled the weakest expansion in business activity in the current ten-month sequence of growth," the report said.

New export orders rose at a marked pace, with the rate of increase among the steepest in over nine years of data collection for the series, with the upturn supported by strong demand from neighboring countries, S&P Global added.

The PMI value above 50 points is indicative of the business activity growth and the value below that level flags its slowdown.