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flag Russia’s services sector grew at its fastest pace in a year in January 2026, driven by strong demand and rising prices due to a VAT hike.

flag Russia's services sector expanded at its fastest pace in a year in January 2026, with the S&P Global Services PMI rising to 53.1 from 52.3 in December, signaling third consecutive monthly growth. flag Stronger customer demand and effective advertising drove the sharpest increase in new business in 12 months. flag Despite rising business confidence and a slight rebound in employment, firms remained cautious, with input costs surging due to a recent VAT hike—the steepest rise in two years—fueling higher selling prices and inflation. flag The composite output index also rose to 52.1, indicating overall private sector expansion.

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