Russia PMI April 2023

Russia: Services PMI falls in April

The S&P Global Russia Services PMI Business Activity Index came in at 55.9 in April, down from March’s 58.1. As a result, the index remained entrenched above the 50.0 no-change threshold, signaling a softer, albeit still strong, improvement in services sector operating conditions from the previous month.

The overall strong result reflected a sustained growth in new business, mostly thanks to robust domestic demand which more than offset shrinking export orders. In turn, Russian services providers accelerated their hiring to the fastest in over a decade. In terms of prices, input cost inflation eased in April, while output charges rose at the fastest pace so far this year.

Meanwhile, the S&P Global Composite Output Index PMI fell to 55.1 in April, from 56.8 in March.

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