Russia's service sector activity deteriorated further in May as output fell further amid a steeper drop in new orders, survey results from S&P Global showed on Wednesday.
The services purchasing managers' index, or PMI, dropped to 48.7 in May from 49.7 in April. Any score below 50 suggests contraction in the sector.
Output fell at the fastest pace since September 2025, linked to lower new sales intakes, which declined at the quickest rate in eight months, and subdued customer demand.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.