-
Australian PSI: Services sector expands for first time in a year
The services sector expanded for the first time in 12 months in February, with the Australian Industry Group Australian Performance of Services Index (Australian PSI®) improving by 1.8 points to 51.7 (index readings above 50 points indicate an expansion in activity, with the distance from 50 indicating the strength of the expansion). Three of the five activity sub-indexes expanded (i.e. above 50 points) in February, with the new orders (up 2.8 points to 53.5) and employment (up 2.8 points to 54.6) sub-indexes expanding for a second consecutive month, while supplier deliveries also expanded (up 4.9 points to 51.5) ... (full story)