The service sector in Australia swung to expansion in June, the latest survey from the Australian Industry Group showed on Friday, with a Performance of Service Index score of 51.2.
That’s up from 49.6 in May, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components, consumer services got a boost from increased housing market growth and low interest rates – while household income and consumer confidence continue to lag.
The material has been provided by InstaForex Company – www.instaforex.com