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Global Russia Services PMI index down to 51.1 points in February

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

MOSCOW, March 5. /TASS/. The Global Russia Services PMI index decreased to 51.1 points in February 2024 against 55.8 points in the previous month, according to a study by S&P Global.

"Inflationary pressures eased at service providers. Input costs rose at the weakest pace since July 2020, while efforts to drive sales led selling prices to increase at the slowest rate in 11 months," according to the statement.

The latest data also suggests that a weaker rise in output stemmed from a slower increase in new orders as demand conditions softened. Moreover, the slowest rise in new orders for over a year led firms to moderate their hiring activity and business confidence, with job creation easing notably to only a fractional rate.

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

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