Russian service sector: May 2014 saw Russia’s shrinking service sector record its fastest rate of decline in five years, according to HSBC’s Russia Services purchasing managers’ index (PMI), which fell from 46.8 in April to 46.1. Figures from the PMI index also showed that manufacturing output in Russia contracted for the fifth month running, pulling the composite output index down to a five-year low of 47.1. The Moscow Times