The seasonally adjusted S&P Global Russia Services PMI Business Activity Index just about broke even, posting 50.5 in April, down from 51.4 in March and only just above the 50 no-change benchmark. S&P Global reported on May 6. (chart) The services PMI result indicated only a marginal upturn in output at Russian services firms as the economy begins to cool and the bump from the military Keynesianism of heavy military spending starts to wear off. “The rise in services activity was the slowest in the current 15-month sequence of growth and well below the series average. Although firms continued t…
