-
Services Growth Softens in July
The Australian Industry Group Australian Performance of Services Index (Australian PSI® ) fell 9.4 points to 53.6 points (seasonally adjusted), indicating slowing growth in July 2018 compared to June. Results above 50 points indicate expansion, with higher numbers indicating stronger growth rates. • The Australian PSI® has indicated positive conditions (results above 50 points) for seventeen months. It has been broadly stable or expanding for twenty-two months. • Four of the five activity sub-indexes in the Australian PSI® were positive (results over 50 points) in July 2018. Inventories accelerated slightly ... (full story)