The service sector in Australia continued to expand in July, albeit at a much slower rate, the latest survey from the Australian Industry Group revealed on Friday with a Performance of Service Index score of 53.6.
That’s down sharply from 63.0 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
The index has been expanding for 17 straight months.
Individually, stocks, sales, employment and new orders all continued to expand – although at a lower rate. Deliveries fell into contraction.