Australia Australian Industry Group performance of Services Index for July
Well … I did double take on that result.
But … there it is.
Comes in at 43.9
- plummeting from June's 52.2
- largest monthly fall since July 2018
- owest since the end of 2014
Australian Industry Group comment:
- It suggests trading conditions for many businesses dived again in July
Mmmm .... ya think?
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The services PMI does not attract the attention of the manufacturing PMI …. despite services being a larger part of the economy. Go figure. Anyway, that's probably a good thing on results like this one, AUD would be at something like zero if anyone cared :-D