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Financial News: Australia Service Sector Slows In December - AiG

Australia Service Sector Slows In December - AiG

01/08/2019 - 17:00:00 (RTTNews)

(RTTNews) - The service sector in Australia continued to expand in December, albeit at a slower pace, the latest survey from the Australian Industry Group showed on Wednesday with a Performance of Service Index score of 52.1.

That's down from 55.1 in November, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, sales, supplier deliveries finished stocks and capacity utilization all slowed but continued to expand.

The employment component fell sharply and into contraction, while new orders eked out a small increase to climb further into expansion territory.

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