Tracks monthly developments in the Australian services sector, condensing data into an overall boom or bust index. The composite index is based on the surveys for sales, new orders, employment, inventories and deliveries, compiled by American International Group. The AIG Performance of Service Index excludes industrial manufacturing sectors that tend to be volatile and seasonal, giving a clean picture of Australia's service sector that accounts for a majority of Aussie GDP. The headline number uses a 50 baseline, where above 50 signifies growth, while a number below 50 shows a contraction in the services sector.
Relevance:Rarely affects markets
Release schedule: 23:30 (GMT); monthly, in the first week following the reporting month.
Source of report: Australian Industry Group
Web Address: http://www.aigroup.asn.au/
Address of release: http://www.aigroup.asn.au/scripts/cgiip.exe/WService=aigroup/ccms.r?PageId=808
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