FX & CFD trading involves significant risk
The Australian Industry Group (AiG) released its services purchasing managers' index (PMI) for Australia on the late Tuesday evening. The index slid to 48.9 in October from 52.3 in September.
A reading above 50 indicates expansion in the sector, while a reading below 50 indicates contraction in the sector.
Only two of the five activity sub-indexes were above 50 points in October.
Main contributor to the drop was the sales sub-index, which slid by 7.8 points.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.