Financial News: Russian Service Sector Downturn Eases In July

Russian Service Sector Downturn Eases In July

08/05/2026 - 04:55:00 (RTTNews)

(RTTNews) - Russia's services activity deteriorated at the slowest pace in three months in July, survey results from S&P Global showed on Wednesday.

The services purchasing managers' index, or PMI, rose to 49.0 in July from 48.2 in June. Nonetheless, any score below 50 suggests contraction in the sector.

The overall downturn in July was linked to weak client demand and a further decline in new business inflows, which fell for the fourth successive month. However, the rate of decline in new orders was the slowest in three months.

Russian service providers reduced their workforce numbers further in July, reflecting the non-replacement of voluntary leavers and shorter working hours in response to weak demand.

On the price front, input price inflation accelerated as operating expenses increased due to fuel shortages, which pushed up supplier and logistics costs. As a result, selling prices rose at a faster pace, although the rate of inflation remained historically muted.

Looking ahead, the level of business optimism ticked up but remained well below the series trend.

The composite output index rose to 49.6 in July from 48.9 in June, indicating a marginal contraction in the Russian business activity. Although manufacturers recorded a sustained expansion in production, output declined further at service sector firms.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

French Consumer Sentiment Remains Unchanged (07 min(s), 52 sec(s) ago)
(RTTNews) - French consumer confidence remained stable in August, monthly survey results from the ...Full Story»

Brazil FGV Consumer Confidence Lowest Since November 2022 (22 min(s), 52 sec(s) ago)
(RTTNews) - Confidence among Brazilian consumers weakened further to the lowest level in nearly fo ...Full Story»

German Business Confidence Strongest In A Year (01 hr(s), 15 min(s), 52 sec(s) ago)
(RTTNews) - German business confidence rose to the highest level in a year in August, indicating t ...Full Story»

Hong Kong Trade Gap Narrows Sharply In July (01 hr(s), 57 min(s), 52 sec(s) ago)
(RTTNews) - Hong Kong's foreign trade deficit decreased markedly in July from a year ago as ex ...Full Story»

Taiwan Industrial Output Growth Hits 6-Month High; Retail Sales Rise Further (02 hr(s), 17 min(s), 52 sec(s) ago)
(RTTNews) - Taiwan's industrial production growth accelerated further in July to the strongest ...Full Story»

Poland Unemployment Rate Remains Steady At 5.8% (02 hr(s), 46 min(s), 52 sec(s) ago)
(RTTNews) - The unemployment rate in Poland remained stable as expected in July after falling in t ...Full Story»

Norway Jobless Rate Falls To 17-month Low (02 hr(s), 59 min(s), 52 sec(s) ago)
(RTTNews) - Norway's unemployment rate decreased in July to the lowest level in nearly one-and ...Full Story»

Denmark Retail Sales Rise 1.3% (03 hr(s), 36 min(s), 52 sec(s) ago)
(RTTNews) - Danish retail sales increased for the third straight month in July, preliminary figure ...Full Story»