The service sector in Australia swung to contraction in April, the latest survey from the Australian Industry Group showed on Tuesday, with a Performance of Service Index score of 49.7.
That’s down from 50.2 in March, and it slips below the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components of the survey, new orders, services sales, supplier deliveries and services businesses all contracted in April, while services employment expanded.
The material has been provided by InstaForex Company – www.instaforex.com