Plus   Neg

Australia Service PMI 48.9 In November - AiG

An index measuring the service sector in Australia came in with a score of 48.9 in November, the latest survey from the Australia Industry Group revealed on Wednesday.

That's up from 47.9 in October and represents an eight-month high, although it remains below the boom-or-bust plateau of 50 that separates expansion in a sector from contraction.

In all, the service sector has been contracting for 22 consecutive months, AiG said.

"Confidence appears to be building with the lift in employment in November suggesting more optimistic hiring among services businesses in the lead-up to what is hoped to be a busy Christmas," AiG CEO Innes Willox said in a release accompanying the data.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT