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Financial News: Australia Service Sector Continues To Contract In March

Australia Service Sector Continues To Contract In March - AiG

04/02/2019 - 19:17:00 (RTTNews)

(RTTNews) - The service sector in Australia remained in contraction in March, albeit at a slightly slower rate, the latest survey from the Australian Industry Group showed on Wednesday with a Performance of Service Index score of 44.8.

That's up marginally from 44.5 in February, although it remains well beneath the boom-or-bust line of 50 that separates expansion from contraction. It's also well below the 12-monthg average of 52.3.

Individually, sales, new orders, supplier deliveries, finished stocks and selling prices all were in contraction - while employment, capacity utilization, input prices and average wages all expanded.

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