Russia’s business activity at its seven-month lowest

6 November 2015 (09:24)

UrBC, Moscow, November 6, 2015. The Russian market’s business activity was estimated at 49 points in October 2015, which was the lowest indicator in the last seven months, Finmarket refers to Markit as stating.

According to Markit, the PMI index in the tertiary sector dropped down from 51.3 points in September to 47.8 points in October, which means it has gone down below the critical point for the third time in the last five months.

The tertiary sector’s activity experienced a downfall because new orders mostly failed to come and a certain portion of production facilities were left idle.

Things slowed down in all of the tertiary sector’s segments, with the exception of postal and telecommunication services, due to economic difficulties which, in their turn, affected October sales.

Predictably, the job market shrank as well. The decline in the number of vacancies was greatest since February. The main reason was the strategy adopted by employers to maximize resources and minimize operational expenses.

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