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Australian PSI: Services sector slips in September
The Australian Industry Group Australian Performance of Services Index (Australian PSI®) fell by 5.3 points to 48.0 in September, slipping into contraction following two months of expansionary readings (results below 50 points indicate contraction, with lower numbers indicating a stronger rate of contraction). Innes Willox, Chief Executive of the national employer association Ai Group, said: "The increasingly uncertain economic environment is dragging on service industries. The sector has fallen into contraction in September, and all services activity indicators have worsened in the last month. Low consumer and ... (full story)