Economics
Russian Services Industry Slumps to Lowest Since May 2009
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Russia’s services activity slumped to its lowest in five-and-a-half years as sanctions over Ukraine compounded weak demand, a falling ruble and political uncertainty to undermine private companies.
The Russia Services Business Activity Index fell to 44.5 in November, its lowest since May 2009, from 47.4 in October, according to data released by HSBC Holdings Plc and Markit Economics today. The median estimate of eight economists surveyed by Bloomberg predicted an increase to 47.8. A reading below 50 signals contraction.