Australian services PMI for May 49.2 (prior 57.8)

Australian Industry Group Performance of Services Index. Back into contraction, a terrible performance.

This is the final PMI from Australia for the month. All the others have been in expansion. There have been some notable drops but none into contraction until this one.

The AiG PMIs for the month :

• Australian Manufacturing PMI for May 52.4 (prior 58.5)

• Australia construction PMI for May 50.4, dropping from 55.9 in April

The Markit PMIs:

• Australian manufacturing PMI for May (2nd one) 55.7 (prelim 55.3)
• Australian May Services PMI: 53.2 (prior 53) & Composite 52.9 (prior 52.5)

aud AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term