FX & CFD trading involves significant risk
The Australian Industry Group (AiG) released its services purchasing managers' index (PMI) for Australia on the late Monday evening. The index fell to 49.5 in March from 51.8 in February.
A reading above 50 indicates expansion in the sector, while a reading below 50 indicates contraction in the sector.
Four of the five activity sub-indexes were below 50 points in March.
Main contributor to the decline was sales sub-index.