Russia’s services PMI index rose again to 54.9 points in January

Russia’s services PMI index rose again to 54.9 points in January
Russia’s services PMI index rose again to 54.9 points in January
By bne IntelliNews February 5, 2019

Russia’s services PMI index rose again to 54.9 points in January from 54.4 points in December, but the combination index that includes manufacturing production fell to 53.6 points in January from 53.9 points in December, IHS Markit reported on February 5.

Panellists said there was an increase in new orders in the service sector, including export orders, in January, as well as some recovery in demand.

At the same time, there was the biggest increase in prices for services since 2014, mainly due to the increase in VAT to 20% that was introduced at the start of 2019.

According to Rosstat, the industry completed 2018 with an increase of 2.9% against growth of 2.1% a year earlier.

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