MOSCOW (dpa-AFX) - Russia's service sector expanded in February, survey results from IHS Markit showed on Thursday.
The services Purchasing Managers' Index rose to 52.1 in February from 49.8 in January. Any reading above 50.0 indicates expansion.
'Russian service providers registered a pick-up in growth momentum during February, as activity returned to expansion,' Sian Jones, Senior Economist at IHS Markit, said.
New business remained unchanged in February and new export orders increased.
Input prices rose further in February and selling prices increased at a softer pace.
The outlook for the next 12 months increased in February and the degree of confidence was the strongest since September last year.
The composite output index rose to 50.8 in February from 50.3 in January. This was the fastest since July last year.
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