Data from S&P Global indicate a significant increase in production volumes, they grew faster than in all previous months of the last year and reached their maximum since the beginning of the calculation of the indicator. This happened not only due to the growth of consumer interest, but also due to the increase in the range of services.
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Positive market factors have allowed businesses to shift costs to consumers and increase retail prices. Thus, the cost of services has also shown maximum values over the past 12 months.
Service market participants predict an increase in production volumes in this area throughout the current year. Further growth in consumer interest is expected, and companies intend to continue investing in new product development and marketing.
The manufacturing PMI index also showed growth in January.
