AiG Performance of Services index,
The AiG manufacturing PMI (out earlier this week) was much better
The sub indexes for this indicator are, as you'd expect with such a small rise, a buit all over the place. Ups and down, a mixed result. While the focus is usually on the manufacturing PMIs. services are a bigger part of the economy here in ozzAustralia (pretty much everywhere) so the lacklustre performance of the index is not welcome. Still, its in expansion so I donltdon't want to get too distraught :-D
- 19 months straight for the expansion
Oh, in case you are wondering …. AUD unmoved. It usually is on this indicator announcement.
It is known as a 'lower tier' release. The thing is though, the lower tier on a cake is always the biggest, right? So there is that (this is the tail end of the post, please excuse my rambling)
