Russia's service sector expansion moderated in June, while the growth rate of the whole private sector eased to an eight-month low, the latest survey by Markit Economics showed Wednesday.
The seasonally adjusted HSBC business activity index, a measure designed to track changes in services activity, fell for the fourth time in five months in June, to 53.2 from 54.9 in May. This signaled the second-weakest rate of growth since last August.
The composite output index, covering manufacturing and services, fell to an eight-month low of 52.6 in June.
New business placed with the service sector companies increased at the weakest pace since September 2010, when growth resumed following the heatwave-related disruption. Manufacturing new orders also rose at a slower pace.
Job creation in services sector slowed almost to a halt in June. Moreover, manufacturers cut staff slightly during the month, resulting in broadly no change at the composite level, Markit said.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.