Russian Services PMI Drops to 49.5 Signaling Contraction
Russia's services sector contracted in March as demand softened and new orders stalled. The S&P Global PMI fell to 49.5, marking the first drop in six months.
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The services sector in Russia contracted in March for the first time in six months, as softening demand and a stagnation in new orders weighed on business activity. The Services PMI Business Activity Index, released by S&P GLOBAL INC, dropped to 49.5 in March from 51.3 in February, falling below the 50.0 mark that separates growth from contraction.
