The services sector in Australia slipped into contraction territory in October, the latest survey from the Australian Industry Group said on Wednesday with a services PMI score of 48.9.
That’s down sharply from 52.3 in September, and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components of the survey, sales and supplier deliveries expanded in October – while employment, new orders and stock levels contracted.
The three-month average remains expansionary however, coming in at 52.3.
The material has been provided by InstaForex Company – www.instaforex.com