Russia's service sector recorded strong growth in February, and the rate of expansion accelerated from the previous month, data from a survey by Markit Economics and HSBC Bank showed Tuesday.
The seasonally adjusted purchasing managers' index for the service sector rose to 56.1 in February from 55.7 in January. A PMI reading above 50 indicates expansion in the sector, while one below suggests contraction. The sector recorded growth for two-and-a-half years.
New orders received by Russian service sector firms increased further in February, data showed.
Service providers raised their workforces further in February, though at a modest rate, leaving the employment level little changed from January's five-month low. Input price inflation in the sector remained weak in the context of historic survey data.
At the same time, the composite output index, which measures activity in both the manufacturing sector and the service sector, edged up to 54.9 in February from 54.8 in January.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.