Russian Services Confidence Hits 40-Month Low in April
The S&P Global Russia Services PMI remained in contraction territory at 49.7 during April as weak client demand led to declines in output and new sales. Business confidence fell to its lowest level since December 2022 while firms continued to reduce staffing levels due to lower workloads.
Xurve View
Insights:
Xurve View
Russia saw its services sector contract for a second month in April as the PMI reached 49.7. The index rose from 49.5 in March but remained below the 50-point threshold separating growth from contraction. Investors are monitoring the 40-month low in business confidence, which signals deepening domestic and export demand constraints.
