Russia Services PMI Improves

According to a report by Markit Economics, the final Russia Services Purchasing Managers’ Index was 55.2 in September 2017 compared to 54.2 in August 2017, Market Realist reported. The figure beat the market expectation of 55.0. The country’s services PMI has been showing gradual improvement since July 2017, mainly due to the following: production volume and output rose significantly in September compared to August; new orders improved at a higher rate, the best improvement since December 2012; and export orders and employment rose more than the past four years. Robust client demand gave the business confidence index a boost in September 2017. That signifies that businesses are optimistic about the country’s demand outlook. The domestic economy is showing signs of strong recovery. Improvement in domestic demand is playing a major role in this recovery process. Meanwhile, the iShares MSCI Russia Capped, which tracks the performance of Russia, rose 4.5