In January, Australia's services PMI showed a slower contraction (49.1) due to stability in demand and a less severe fall in new orders, as per Judo Bank's Australia Services PMI.

Australia's services activity contracted at a slower rate in January, according to Judo Bank's Australia Services Purchasing Managers' Index (PMI). The index rose to 49.1 in January from 47.1 in December, indicating a slower contraction. This slower pace of decline was attributed to a stabilisation in demand supported by a shallower fall in new orders.

February 04, 2024
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