Business activity in the service sector of the RF increased in Feb.

IHS Markit reported some growth in business activity in the service sector in Russia. The February PMI edged up 2.3 points to 52.1. This is the highest value of the indicator for the last seven months. Representatives of the companies that took part in the survey noted the growth in demand, as well as the creation of new products. Many companies reported maintaining the volume of orders at the same level. Some survey participants reported a decline in employment due to a reduction in production capacity. Costs continued to rise in February. But their growth rates were slower. The composite index, which assesses business activity both in the service sector and in the manufacturing sector of the Russian Federation, rose in February by 0.5 points to 50.8 points. The study was conducted before the start of the military operation of the Russian Federation in Ukraine. The introduction of tough anti-Russian sanctions in the economic and financial sectors may have a negative impact on business activity.

Источник: xCritical.com