Russia’s Services Growth Slows Down on Inflation, PMI Data Show

Russia’s service industries growth rate declined in November from the previous month, hit by inflationary pressure and higher input costs, HSBC Holdings Plc said.

The seasonally adjusted Business Activity Index fell to 54.1 in November from 55.6 in October, HSBC said in a report today, citing data compiled by Markit Economics. The survey- based index indicates a contraction when it is below 50 and growth with a figure above 50.

To contact the reporters on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net.

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.