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- Australian services index rose less than expected in September
Australian services index rose less than expected in September
The Australian Industry Group Performance of Services Index fell 0.9 points to 52.1 in September (seasonally adjusted), signalling a marginal slowing in growth from August. Australian PSI results above 50 points indicate expansion, with higher numbers indicating stronger rates of growth.
All five of the activity sub-indexes in the Australian PSI were above 50 points and indicating growth in September (seasonally adjusted), but four of them grew at a slower pace than in August. Sales (52.9 points), new orders (51.9) and employment (51.4) growth moderated while stocks (inventory) (51.8) built up at a slower rate. Supplier deliveries (52.6) returned to expansion.
Capacity utilisation fell to 77.1% of available capacity being utilised across the services sector in September.
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