Russia's services PMI rises to 44.4 in April
Output falls due to weaker demand conditions, decrease in new orders as sanctions cut customer purchasing power.
Table of Contents (Show / Hide)
The S&P Global Russia services PMI rose to 44.4 in April from March's 22-month low, according to data released on Friday.
Russian service providers highlighted that output fell due to weaker demand conditions and decrease in new orders as sanctions cut customer purchasing power, the S&P said.
Despite the slowdown in the pace of contraction in business activity from a month ago, it was the second steepest since May 2020.
The introduction of sanctions also pushed input prices up, with the rate of cost inflation the second-fastest on record.
Moreover, services firms remained pessimistic for the 12-month outlook, contributing to a further drop in employment amid efforts to cut costs.
URL :
News ID : 605
Pharmacies ordered to pay $650m in Ohio opioids suit
Stocks close lower as Fed official signals higher rates
Apple Reports Record Revenue of Nearly $82B in April-June Quarter
Bitcoin drops below $20,000 over concerns on Fed rate hikes
Democrats introduce Digital Asset sanctions compliance act to curb Russian Crypto use
World Bank warns of slowing global growth, widening inequality
How the FAA went to war against 5G
Indonesia to ban palm oil exports
Despite Biden's vows, Yemen starves
Global demand for air cargo falls 5.2% amid Russia-Ukraine war
