The business activity index (PMI) in the Russian service sector fell to 50.1 points in October compared to 51.3 points in September, according to research by S&P Global. As Business FM reports, surveyed entrepreneurs register a drop in demand for their services from 5% to 30%, depending on the industry. Businesses associate the slowdown in activity with the high cost of loans, economic uncertainty and the desire of customers to save on unnecessary expenses.

The business activity index (PMI) in the Russian service sector fell to 50.1 points in October compared to 51.3 points in September, according to research by S&P Global. As Business FM reports, surveyed entrepreneurs register a drop in demand for their services from 5% to 30%, depending on the industry. Businesses associate the slowdown in activity with the high cost of loans, economic uncertainty and the desire of customers to save on unnecessary expenses.