The service sector in Australia slid deeper into contraction in January, the latest survey from the Australian Industry Group showed on Friday with a Performance of Service Index score of 46.6.
That's down from 48.7 in December, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.