MOSCOW, July 3 (Reuters) – Russia’s services sector contracted further in June as weaker client demand drove steeper falls \u200cin output and new orders, a business survey showed \u200con Friday. <\/p>\n
The S&P Global Russia Services PMI Business Activity Index fell to 48.2 \u200bin June from 48.7 in May, a survey by S&P Global showed. The 50-mark separates growth from contraction. <\/p>\n
Output fell for a fourth straight month, and the pace of decline was the fastest \u200csince September 2025, with \u2060firms citing subdued customer demand and a sustained drop in new orders. <\/p>\n
New business decreased for a third \u2060consecutive month, with the rate of contraction accelerating to the fastest since December 2022. Firms linked lower sales to reduced customer \u200bpurchasing power \u200band financial difficulties among clients. <\/p>\n
Employment \u200bfell for a fifth month \u200cas companies cut costs and did not replace voluntary leavers. The pace of job shedding was the steepest in three-and-a-half years, while backlogs continued to decline at the second-fastest rate since December 2022. <\/p>\n
Price pressures eased further in June. Input cost inflation slowed \u200cfor a fifth straight month to \u200bits weakest this year, while selling \u200bprice inflation softened to \u200bits slowest pace since January 2021 as some \u200cfirms discounted to support sales. <\/p>\n
Although \u200bfirms remained optimistic \u200babout output over the coming year, confidence rose only slightly from May’s near three-and-a-half-year low and was still the \u200bsecond-weakest since December 2022. <\/p>\n
The \u200ccomposite index also fell, with private sector output contracting \u200bat its fastest pace in three months. <\/p>\n
(Reporting by Gleb \u200bBryanski; Editing by Toby Chopra) <\/p>\n","protected":false},"excerpt":{"rendered":"MOSCOW, July 3 (Reuters) – Russia’s services sector contracted further in June as weaker client demand drove steeper…\n","protected":false},"author":2,"featured_media":741458,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,318619,101,1206,46542],"class_list":["post-741457","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-business-survey","tag-economy","tag-russia","tag-sp-global"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/741457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=741457"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/741457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/741458"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=741457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=741457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=741457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}