Russia's service sector activity logged a renewed decline in March amid weaker demand conditions, survey results from S&P Global showed on Friday.
The services purchasing managers' index, or PMI, dropped to 49.5 in March from 51.3 in February. Any score below 50 suggests contraction in the sector, while a reading above 50 suggests expansion. Moreover, this was the first decrease in six months.
New orders fell for the second straight month in March amid concerns regarding a fall in client purchasing power and greater uncertainty along with the impact of war in the Middle East.
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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.