Business activity in Russia's services sector contracted at a slower pace in July, according to the latest Purchasing Managers' Index (PMI) from S&P Global.
The index rose to 49 points from 48.2 in June, indicating a marginal improvement in the rate of decline, though the reading remains firmly in contraction territory as it stays below the 50-point threshold that separates growth from shrinkage.
Despite the slight uptick in the headline figure, underlying demand continues to weaken.
New orders for services fell for the fourth consecutive month at the start of the third quarter, underscoring persistent headwinds for the sector.
The data suggests that while the pace of deterioration may be stabilizing, the services industry has not yet found a footing for recovery.
The Russian services PMI is part of the broader global PMI series published by S&P Global, which tracks private sector activity across major economies.