The Australian Industry Group’s Performance of Services Index (PSI) fell 0.7 points to 48.2 points in November, staying below 50, which separates expansion from contraction.
Ai Group chief executive Innes Willox said the fact that the services sector weakened for a second consecutive month was a sign the economy was becoming more fragile.
“Retailers will be hoping for a rush in the next few weeks to make up for the slow start to the Christmas trading period,” he said on Thursday.
Local News Matters
Media diversity is under threat in Australia – nowhere more so than in South Australia. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. Your contribution goes directly to helping our journalists uncover the facts. Please click below to contribute to InDaily.