MOSCOW, May 6 (Reuters) - Growth in Russia's service sector activity firmed in April to its highest since July 2008, supported by new business and recovery in employment, the VTB Capital purchasing managers index (PMI) showed on Thursday.
The headline figure rose to 56.9 in April from 53.6 in March, staying above the 50 mark that separates expansion from contraction for the ninth month in a row.
'A further sharp increase in new business (at the highest rate since July 2008) pushed the business activity index to a 21-month high,' said Svetlana Aslanova, analyst at VTB.
Moreover, the employment index expanded to 51.7 in April -- the first gain since the contraction started in September 2008. The figure for March was 49.9
'These positive trends back up our bullish view on the economic recovery in Russia in 2010, with expected GDP growth of 4.9 percent', Aslanova added.
** Index copyright and database rights owned by Markit: unlicensed copying strictly prohibited **
With immediate effect detailed PMI data are only available under licence from Markit and customers need to apply to Markit for a licence. For further information please phone Markit on ++44 20 7260 2454
(Reporting by Olga Borodina; editing by Dmitry Sergeyev and Stephen Nisbet) (olga.borodina@reuters.com; Tel: +7495 7751242, Reuters Messaging: olga.borodina.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The headline figure rose to 56.9 in April from 53.6 in March, staying above the 50 mark that separates expansion from contraction for the ninth month in a row.
'A further sharp increase in new business (at the highest rate since July 2008) pushed the business activity index to a 21-month high,' said Svetlana Aslanova, analyst at VTB.
Moreover, the employment index expanded to 51.7 in April -- the first gain since the contraction started in September 2008. The figure for March was 49.9
'These positive trends back up our bullish view on the economic recovery in Russia in 2010, with expected GDP growth of 4.9 percent', Aslanova added.
** Index copyright and database rights owned by Markit: unlicensed copying strictly prohibited **
With immediate effect detailed PMI data are only available under licence from Markit and customers need to apply to Markit for a licence. For further information please phone Markit on ++44 20 7260 2454
(Reporting by Olga Borodina; editing by Dmitry Sergeyev and Stephen Nisbet) (olga.borodina@reuters.com; Tel: +7495 7751242, Reuters Messaging: olga.borodina.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.