Australian Industry Group performance of Services Index for August

A big 7.5 point jump on the month.

  • The sub index for employment is up even more stringly, +11.4 points on the month to 55.2.
  • Related somewhat, the wages sub measure +2.4 to 59.2

Comments from the report:

  • a return to mildly positive conditions following a weak month in July. It suggests trading conditions for some businesses picked up in August, returning to similar levels seen earlier in the year.
  • expansion in four of the eight services sectors in August (trend). Among the business-oriented sectors, only finance & insurance reported positive results. Among the consumer-oriented segments, the 'health, education & community services' sector was strongest and the retail trade sector continued to perform very weakly.
  • Two activity indicators in the Australian PSI were positive and indicating growth in August; employment increased substantially, and supplier deliveries rose. Inventories and new orders were broadly stable while sales fell across the month.

--

This report usually has pretty much zero impact on forex upon release. Today is par for the course. AUD/USD more or less unchanged

---

We had these earlier in the week, a bit mixed: