Russian services activity grows in Sept for eighth month running -PMI By Reuters

Russian services activity grows in Sept for eighth month running -PMI

© Reuters. FILE PHOTO: A woman looks on as she waits at a Chinese restaurant in Moscow, Russia March 13, 2023. REUTERS/Maxim Shemetov/File Photo

"Although expansions in output and new orders slowed on the month, the rates of growth remained sharp overall thanks to a sustained uptick in client demand," S&P Global said. Russia's weakening rouble has added to inflationary pressure in recent months, forcing the central bank into a series of interest rate hikes to 13%. Analysts polled by Reuters expect the Bank of Russia to raise the cost of borrowing again later this month.

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