Australia's services sector activity rises in June - Breaking The News

Australia's services sector activity rises in June

2 July

1 min read

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Activity in Australia's services sector grew in June compared to the previous month, with the Services Purchasing Managers' Index (PMI) Business Activity Index moving up from 50.6 in May to 51.8, S&P Global said in its latest report.

Meanwhile, the Composite PMI, which takes account of the joint results achieved in services and manufacturing, went from May's 50.5 to 51.6 in June.

"Better demand conditions in the service sector supported a faster rise in activity and continued employment growth in June," S&P Global Market Intelligence Economics Associate Director Jingyi Pan commented. "A pocket of weakness was found in exports which fell due to deteriorating external conditions. That said, overall business confidence soared to the highest level in over three years amid improved optimism among service providers."

data services pmi

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