Australian services sector growth accelerates, creating a challenge for RBA fighting inflation.
Stronger Australian services sector growth is a challenge for the Reserve Bank of Australia (RBA) as they continue to battle inflation pressures. In March, the services sector grew at its fastest rate since April 2022, with a services PMI score of 54.4, up from 53.1 in February. The RBA identifies the services sector as an area of concern due to lingering price pressures, including rising costs for rent, insurance, and electricity.
April 03, 2024
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