December 29, 2023Business Desk

Russian service activity grew in December at fastest pace since August: PMI

The index climbed to 56.2, showcasing an upswing from November's 52.2, sustaining its growth streak for the 11th consecutive month above the crucial 50-point threshold.

Source: Pexels

However, a prevailing challenge for all sectors persists—the acute scarcity of labour, primarily due to conscription and emigration linked to Russia's actions in Ukraine.

Source: Pexels

Although surveyed companies maintained their optimistic outlook for future output, S&P Global noted a slight dip in confidence levels in December, marking a four-month low.

Source: Pexels