Aust services sector still underperforming amid tough conditions
Thursday, Jan 06,2011, 12:35:34 PM Click:
The Australian services sector continued to underperform in December as activity in the property and business services and the finance and insurance sub-sectors fell, a survey shows. The latest Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (PSI) remained relatively unchanged, rising in December only 0.2 point to 46.4.
* A reading below 50 indicates contraction in activity.
* "Conditions certainly remain tough in the services sector with the Melbourne Cup day rise in official interest rates clearly evident at cash registers during December," said Australian Industry group chief executive Heather Ridout.
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