(RTTNews) – Russia’s sector recorded an additional slowdown in commercial activity, however, the rate of contraction remained moderate at the end of the year, showing the effects of the Markit IHS survey on Thursday.
The rate of purchasing managers fell to 48. 0 in December from 48. 2 last month. A score below 50 indicates a contraction of the sector.
The survey revealed a third consecutive drop in new business due to weak visitor calls and declining power. Similarly, the drop in new export sales declined in December.
Services were more positive about the production prospects over the next 12 months.
In an effort to reduce costs, the Russian services sector was shrinking at a stable rate by the end of 2020.