OREANDA-NEWS The composite business Activity Index (PMI) in Russia decreased in October from 50.8 points to exactly 50 points. This became known from the results of a study by S& P Global, whose experts, taking into account the fact that a value above 50 points indicates an increase in business activity, and below this level indicates a slowdown, noted that "the figures indicate stagnation of business activity."

At the same time, according to S&P data, the PMI in the service sector decreased to 50.1 points from September's 51.3, while the manufacturing industry grew by a symbolic 0.1 points to 49.9, remaining in the slowdown zone.

"The volume of new orders, which stabilized in September, began to decline again in October, at the fastest pace in the last four months," the analysts noted. According to them, the number of employees showed a "slight increase" in October after an eight-month period of decline. This happened due to an increase in staff in service companies.

Prior to that, in August, the business activity index in the Russian manufacturing industry fell from 50.7 to 48.8 points, due, among other things, to a drop in the number of new orders and increased inflationary pressures.