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RUSSIA: Services PMI Back Above ‘Expansionary’ Threshold in July

RUSSIA
CEEMEAEM BulletRussiaBulletGlobalEmerging Market NewsRegion
  • Bloomberg report that a large vessel docked at Russia’s liquefied natural gas export plant in the Arctic last week, according to satellite images, in what appears to be the first move to circumvent US sanctions against the facility. The US imposed sanctions in November to prevent the start of exports from Arctic LNG 2.
  • Russia’s Services PMI rose to 51.1 in July (Est: 48.5) from 47.6 in June, data released this morning shows. The composite index rose to 51.9 from 49.8 while new orders rose to 51.2 – marking the 18th consecutive month of expansion.
  • July turned out to be the best month this year for the public debt market, Kommersant report, even despite the increase in the central bank’s key rate. At the end of the month, corporate borrowers placed bonds worth almost RUB 540bn.
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  • Bloomberg report that a large vessel docked at Russia’s liquefied natural gas export plant in the Arctic last week, according to satellite images, in what appears to be the first move to circumvent US sanctions against the facility. The US imposed sanctions in November to prevent the start of exports from Arctic LNG 2.
  • Russia’s Services PMI rose to 51.1 in July (Est: 48.5) from 47.6 in June, data released this morning shows. The composite index rose to 51.9 from 49.8 while new orders rose to 51.2 – marking the 18th consecutive month of expansion.
  • July turned out to be the best month this year for the public debt market, Kommersant report, even despite the increase in the central bank’s key rate. At the end of the month, corporate borrowers placed bonds worth almost RUB 540bn.