Russia’s services activity deteriorated at the fastest pace in nine months as weak client demand led to sharper declines in output and new orders, survey results from S&P Global showed on Friday.
The services purchasing managers’ index, or PMI, dropped to 48.2 in June from 48.7 in May. Any score below 50 suggests contraction in the sector.
The decrease in services activity was attributed to subdued customer demand and a sustained contraction in new orders, which fell at the fastest pace since December 2022, the survey said.
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