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Australian Industry Group’s services purchasing managers’ index for Australia rises to 49.7 in April
The Australian Industry Group (AiG) released its services purchasing managers' index (PMI) for Australia on the late Tuesday evening. The index rose to 49.7 in April from 49.5 in March.
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 rise were finance & insurance and health & community services.
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