Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2023 09 05T061649Z 1 LYNXMPEJ8405Y RTROPTP 4 RUSSIA VKUSNO TOCHKA
2023 09 05T061649Z 1 LYNXMPEJ8405Y RTROPTP 4 RUSSIA VKUSNO TOCHKA

Russian services activity grows in Aug at fastest rate in five months -PMI


MOSCOW (Reuters) – Activity in Russia’s services sector grew at the fastest rate in five months in August as the sharpest rise in new orders since July 2020 drove up output, a survey showed on Tuesday.

The S&P Global Purchasing Managers’ Index (PMI) for Russian services rose to 57.6 from July’s 54.0, staying above the 50 mark that separates expansion from contraction for the seventh consecutive month.

“August data signalled stronger demand conditions across the Russian service sector as output expanded at a sharper pace,” S&P Global said.

“Growth in business activity was steep overall, and supported by the quickest rise in new orders for just over three years,” it added.

Domestic client demand led the increase in orders, but new export business also grew, according to the survey.

The new orders sub-index climbed to 58.1 in August, the highest reading since July 2020, from the previous month’s 53.4.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Business confidence over the year ahead climbed to its highest level since September 2021.

A sister survey published last Friday showed Russian factory activity grew at the strongest rate in three months in August as new orders gained momentum, although the weak rouble added to the inflationary pressure facing manufacturers.

 

(Writing by Hugh Lawson; Editing by Catherine Evans)

 

Recent Post: