Australia's services sector growth slowed in July, with the PMI falling to 50.4 from 51.2.

Australia's services sector growth slowed down in July, as the Judo Bank Australia Services PMI fell to 50.4 from 51.2 in June. The decrease in new business and export orders led to a contraction in overseas client interest and the transport & storage sector. Despite the slowdown, the sector remains in expansion territory, above 50. Market analysts and service sector stakeholders are closely monitoring the situation, expecting signs of stabilization or reacceleration in upcoming months.

August 05, 2024
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