Page 47 - RusRPTJul21

As a result of lower production requirements and sufficient capacity to process backlogs, firms cut their workforce numbers in June. The decrease was the first round of job shedding in 2021 so far, but only modest overall. Overall, unemployment has been falling steadily since the peak in the winter and posted 5.1% in May.
Vendor performance continued to deteriorate in June, as suppliers' delivery times were extended significantly. Delays were commonly linked to raw material shortages and transportation issues.
Russia’s service sector expanded at the fastest rate in nine months, according to the latest IHS Markit Russia Services Business Activity Index result, released on June 3.
The seasonally adjusted services PMI posted 57.5 in May, up from 55.2 in April – the fifth month in a row of expansion, with firms saying the growth was due to stronger client demand and the quickest since August 2020
The good service result follows on from a rise in the manufacturing PMI that posted 51.9 in May, up from 50.4 in April, its strongest improvement since March 2019, Markit said in a press release on June 1.
Combined, the two results also lifted the IHS Markit Russia Composite PMI Output Index, which posted 56.2 in May, up from 54.0 in April, to signal the fastest expansion in private sector business activity over all since last August.
47 RUSSIA Country Report July 2021 www.intellinews.com