The growth of business activity in the Russian service sector has almost stopped. The PMI index of the service sector fell from 51.3 to 50.1 points in October, according to a study by S&P Global. The indicator remains slightly above the 50-point threshold, which separates growth from a decline in activity. The composite PMI index, which also includes manufacturing, fell from 50.8 to 50 points, indicating stagnation in business activity. The slowdown is due to the weakening of demand and a decrease in new orders for the first time in three months. At the same time, employment in the services sector began to grow after eight months of decline, although the pace of hiring remained low. At the same time, inflationary pressure increased. The company's costs for raw materials, fuel, utilities and wages began to grow faster, and prices to customers rose at the fastest rate in eight months.

The growth of business activity in the Russian service sector has almost stopped. The PMI index of the service sector fell from 51.3 to 50.1 points in October, according to a study by S&P Global. The indicator remains slightly above the 50-point threshold, which separates growth from a decline in activity. The composite PMI index, which also includes manufacturing, fell from 50.8 to 50 points, indicating stagnation in business activity. The slowdown is due to the weakening of demand and a decrease in new orders for the first time in three months. At the same time, employment in the services sector began to grow after eight months of decline, although the pace of hiring remained low. At the same time, inflationary pressure increased. The company's costs for raw materials, fuel, utilities and wages began to grow faster, and prices to customers rose at the fastest rate in eight months.