Australia Service Sector PMI Soars … RTT
Australia Service Sector PMI Soars In May – AiG
The service sector in Australia continued to expand in May and at an accelerated pace, the latest survey from the Australian Industry Group revealed on Tuesday with a Performance
of Service Index score of 59.0.
That’s up from 55.2 in April, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, new orders grew more strongly in May than in April (up 8.7 points to 65.0 points), while sales also continued its robust run (up 4.3 points to 60.1 points).
Employment accelerated slightly, with this sub-index up marginally in May and marking a year of expanding employment in the Australian PSI. Supplier deliveries climbed into expansion, while inventories fell into
contraction in May.
by RTTNews Staff Writer