Russia’s services industry saw its quickest growth since January, according to a business survey released on Wednesday.
The expansion was fueled by stronger demand and a notable uptick in new orders.
S&P Global’s Services Purchasing Managers’ Index (PMI) for Russia rose to 52.2 in May, up from 50.1 in April.
This reading pushes the PMI further above the 50 threshold that indicates growth.
However, despite the improvement in activity, businesses in the sector trimmed their staffing levels.
