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Financial News: Australia Service Sector Loses Steam In November -

Australia Service Sector Loses Steam In November - AiG

12/03/2019 - 18:46:00 (RTTNews)

(RTTNews) - The service sector in Australia continued to expand in November, albeit at a slower pace, the latest survey from the Australian Industry Group revealed on Wednesday with a seasonally adjusted Performance of Service Index score of 53.7.

That's down from 54.2, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Among the business-oriented sectors finance and insurance reported positive results, logistics (wholesale trade, transport and storage) was stable, while business and property services contracted.

Among the consumer-oriented segments 'retail trade and hospitality' and 'personal, recreational and other services' were positive, while 'health, education and community services' contracted slightly.

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12/16/2019 - 01:45 AM (RTTNews)
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