Russian services sector grows at slowest pace in 15 months
Russian services activity grew at its weakest pace in more than a year in April amid softer demand conditions, survey results from S&P Global showed on Monday.
The services Purchasing Managers’ Index (PMI) dropped to 50.5 in April from 51.4 in March.
However, a reading above 50 indicates expansion in the sector.
Further, this was the weakest upturn in output in the current 15-month sequence of growth.
The rise in new orders was only modest and the weakest in the current expansion sequence, which began in February 2023.
On the price front, input price inflation moderated to the second-lowest since July 2020.
As a result, selling price inflation also eased to the slowest since early 2021.
Despite a slower rise in sales demand, firms continued to raise workforce numbers in April.
Companies anticipated higher output in the upcoming year, though their level of optimism fell to a nine-month low.
The composite output index fell to 51.9 in April from 52.7 in March, signalling the weakest growth in private sector activity in fifteen months.
(dpa/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Jos
Plateau invests N590 million in modern drug warehouse
The commissioner said the warehouse would be used to store drugs and other medical and health-related commodities.
Education
UBEC trains 1,480 teachers in multigrade pedagogies to boost education in rural areas
Multigrade pedagogy involves assigning a teacher to work with small groups of children of different grade levels in the same classroom.
Lagos
Lagos: 50-year-old woman in court for N2 million fraud
Mr Famuyiwa said the defendant fraudulently collected the money under the pretence of selling a car to one Elvis Ocha, the complainant.
World
Man dies after falling off cruise ship in Australia
Australian police had found a man’s body off Sydney’s coast while searching for a cruise ship passenger who went overboard on Monday.
World
Israeli begins Rafah evacuation ahead of planned military operation
Israel wants to use the military operation in Rafah to smash Hamas’ remaining battalions, which it has been fighting in the coastal strip since October 2023.
Economy
Columbia University cancels main graduation ceremony over weeks-long pro-Palestine protests on campus
After weeks of protests on campus by pro-Palestine demonstrators, Columbia University has ditched its main graduation ceremony for smaller ones.
