The Russian service sector logged stagnation in August after back-to-back contractions, survey results from S&P Global showed on Wednesday.
The services purchasing managers' index, or PMI, rose to 50.0 in August from 48.6 in July. Any reading below 50 indicates contraction, while a score above 50 suggests expansion in the sector.
New orders continued to fall in August, though fractionally. The overall decrease was attributed to challenging financial conditions and customer hesitancy.
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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.