India, June 4 -- The Russian service sector activity expanded at the fastest pace in four months in May amid stronger demand conditions, survey results from S&P Global showed on Wednesday.
The services purchasing managers' index, or PMI, rose to 52.2 in May from 50.1 in April. A reading above 50 indicates expansion.
New orders grew at a solid pace in May on the back of new customer acquisitions and client referrals and an improvement in the sales environment.
Meanwhile, companies reduced their workforce numbers in May due to the non-replacement of voluntary leavers, with the rate of job shedding being the fastest since January.
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On the price front, inpu...