Economic Buzz: Australian Service Sector Slides Into Contraction In January

By in Commodity News on February 7, 2020 3:28 pm

Australia service sector slid deeper into contraction in January, the latest survey from the Australian Industry Group showed on Friday with a Performance of Service Index score of 46.6. Thats down from 48.7 in December, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction. Individually, production, employment and new orders were all well into contraction territory.