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.
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This report usually has pretty much zero impact on forex upon release. Today is par for the course. AUD/USD more or less unchanged
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We had these earlier in the week, a bit mixed: