The services sector edged closer to positive territory in March according to the latest Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (Australian PSI®). The Australian PSI® was up 1.1 points to 49.6 in March to record its highest level in 14 months (readings below 50 represent a contraction in activity with the distance from 50 indicative of the strength of the decrease). Rises in both sales (50.8) and employment (50.2) largely contributed to the March result. Of the four sub-sectors that expanded, accommodation and cafes & restaurants recorded the highest reading in the ... (full story)