Australia Services PMI Jumps To 53.6 In July - S&P Global
(RTTNews) - The services sector in Australia continued to expand in July, and at a faster rate, the latest survey from S&P Global revealed on Wednesday with a services PMI score of 53.6.
That's up from 50.5 in June, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The overall expansion in business activity was centered on the real estate and business services and information and communication categories, while transport and storage remained under pressure at the start of the second half of the year.
Also, the composite PMI improved to 53.2 from 50.4 in June.
Rising business activity was in part due to a renewed expansion of new orders, the first in five months. That said, new export orders continued to fall. Business confidence also improved in July and firms increased their staffing levels at a faster pace.
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