Russia’s Service Sector Achieves Highest Growth Rate in 2.5 Years

The PMI for the Russian services sector continued to rise, and the PMI for this sector rose to 58.1 points in March 2023, according to a study by S&P Global.

Thus, in March, the index recorded a significant increase from the level recorded in February, when it reached 53.1 points.

The agency said Russian service sector PMI rose last month at its fastest rate in nearly two and a half years, helped by improved demand conditions and higher growth in new orders.

A PMI value above 50 points indicates an increase in business activity, and below this level, a slowdown.

Source: Interfax

Related Stories

Leave a Reply