Page 33 - RusRPTAug20

4.3​ Industrial sectors and trade 4.3.1​ Producers PMI
The seasonally adjusted IHS Markit Russia Services Business Activity Index registered 47.8 at the end of the second quarter, up notably from 35.9 in May, Markit said in a press release on July 3.
The downturn in business activity was only modest overall, and eased to the slowest in the current four-month sequence of contraction. Lower output was commonly linked to historically weak client demand following the coronavirus disease 2019 (COVID-19) outbreak. That said, the softer decrease was partly attributed to the reopening of service providers and interest from new and existing customers.
The recovery of the service PMI follow on from the​ ​bounce back in the Russia Manufacturing PMI​ in June, which recovered almost all the ground it has lost during the coronacrisis to post 49.4 at the end of the second quarter, just below the 50 no-change mark, IHS Markit said in a press release on July 1. The June result is up from the deep contraction in manufacturing of 36.2 in May.
Taken together the IHS Markit Composite PMI Output Index posted 48.9 at the end of the second quarter, up from 35.0 in May, and also not far from the 50 no-change mark.
The result was the slowest decline in activity since February. The pace of the decrease in overall output eased amid a slower downturn in service sector business activity and a modest rise in manufacturing production.
33​ RUSSIA Country Report​ August 2020 ​ ​www.intellinews.com