Russia Service Sector Expands For Second Month

(RTTNews) - Russia's service sector expanded for the second straight month in September, survey results from S&P Global showed Monday.

The services Purchasing Managers' Index posted 51.3 in September, unchanged from August. A score above 50.0 indicates expansion.

The expansion in activity was linked to increased new orders and successful marketing campaigns.

Although employment continued to fall, the pace of job shedding was the slowest in four months. Backlogs of work was broadly unchanged from August.

September data signaled softer increases in both input costs and output charges, with rates of inflation below their respective series averages.

Services companies were optimistic in their expectations regarding the outlook for output over the coming year.

The overall private sector output grew the most since February. The composite index posted 50.8 in September, up from 50.6 in August. The uptick in the index reading stemmed from a softer decline in manufacturing production as services activity expanded at the same pace as in August.