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Financial News: Australia Service Sector Swings To Expansion

Australia Service Sector Swings To Expansion

09/03/2019 - 19:25:00 (RTTNews)

(RTTNews) - The service sector in Australia moved into expansion territory in August, the latest survey from the Australian Industry Group showed on Wednesday with a Performance of Services Index score of 51.4.

That's up sharply from 43.9 and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, the indexes for employment, new orders, supplier deliveries, finished stocks, capacity utilization, input prices and average wages all expanded in August, while sales and selling prices remained in the red.

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