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3 Apr, 07:08

Russian services PMI index down to 50.1 points in March — S&P Global

According to the report, the Russian services sector continued to grow in the number of new customers in March

MOSCOW, April 3. /TASS/. The seasonally adjusted S&P Global Russia Services PMI Business Activity Index registered 50.1 at the end of the first quarter, down slightly from 50.5 in February, according to a study by S&P Global.

"The latest data indicated broadly unchanged levels of output at service providers, following an eight-month sequence of expansion," the statement says.

Also, according to S&P Global, the Russian services sector continued to grow in the number of new customers in March, but the pace of growth slowed for the second month in a row and was the weakest since July last year. The latest surge in new sales was traditionally muted amid some reports of a decline in customer purchasing power.

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