MOSCOW, September 4. /TASS/. Russia’s Services PMI Business Activity Index rose to 52.3 points in August 2024 from 51.1 points in the previous month, S&P Global analytical agency reported.

"The latest data indicated a moderate expansion in output at Russian service providers, and one that was the quickest since January," the report said.

Greater activity was commonly linked to stronger client demand and an associated upturn in new business, according to the report. Moreover, new orders rose at the fastest pace since March in August, as customer demand improved further and there was a reported increase in client referrals. Although slower than the long-run series average, the rate of growth was solid overall, the agency said.

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