MOSCOW, March 4. /TASS/. The Russian services business activity index (PMI) fell to 51.3 in February 2026, down from 53.1 in January, according to a study by S&P Global.

"The seasonally adjusted S&P Global Russia Services PMI Business Activity Index posted at 51.3 in February, down from 53.1 in January, to signal a modest but softer upturn in output. Where a rise in activity was noted, panellists linked this to greater new orders and an uptick in customer numbers. The rate of growth was the slowest in the current five-month sequence of increase and below the series trend," the press-release says.

According to the agency, new business at Russian services firms expanded for the fourth successive month midway through the first quarter. The sustained increase in new sales was attributed to a further improvement in client demand. The rate of growth slowed, however, to the weakest since November 2025.

"On the price front, input costs rose at a marked pace during February. The rate of cost inflation eased from January's two-year high, but it was still the second-fastest since January 2025. Although some companies continued to mention the pass-through of the VAT hike from suppliers, others also highlighted greater fuel and utility prices," the press release says.

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