Russian Service Sector Growth Accelerates

(RTTNews) - Russian service sector activity picked up to a seven-month high in December, new survey data showed on Tuesday.

Markit Economics said the HSBC services purchasing managers' index climbed to a seasonally adjusted 56.4 from 54.1 in November. A reading above 50 indicates expansion, while one below suggests contraction.
New work received by Russian service providers continued to rise in December, and at a faster rate. Services employment rose, albeit at a subdued pace.
Meanwhile, the composite PMI, which is a weighted average of the manufacturing and services PMIs, came in at 55.8 in December, supported by faster growth of manufacturing output during the month.