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Services sector decline eases in April
The Australian Industry Group Australian Performance of Services Index (Australian PSI®) rose by 1.7 points to 46.5 points in April 2019 (seasonally adjusted), indicating a slower rate of contraction across the services sector. This was the fourth month of contractionary conditions for services and the third in which the decline has eased. Results below 50 points indicate contraction in the Australian PSI®, with lower numbers indicating steeper rates of decline. The Australian PSI® indicated contraction across both the business-oriented sectors and most of the consumer-oriented sectors (trend data). Hospitality ... (full story)