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Business Activity in the Areas of Production and Services Fell Below a Critical Level
12.07.2019 07:35
Business Activity in the Areas of Production and Services Fell Below a Critical Level

Business activity in the areas of production and services in Russia fell below a critical level in June.

      The PMI index, which reflects changes in the level of business activity in the manufacturing and services sectors, dropped to 49.2 points in June.   The company IHS Markit, which is engaged in the calculation of the index, notes that 50 points is a critical indicator that separates the growth of activity from the recession.

      Back in May, the indicator equaled to 51.5 points and was above the critical level. Business activity in the service sector fell to 49.7 points from 52 points in May. The index in Russia fell below 50 points for the first time since January 2016.

      The company believes that this figure could be associated with a reduction in jobs and the number of new orders. In addition, business expectations fell to a three-month minimum due to the weak demand and lower purchasing power of Russians.


Author: Anna Dorozhkina

Tags: Russian business Russian economy    

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