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Australia – Jul performance of services index
05/08/2015 11:43 am MYT
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The seasonally adjusted Performance of Services Index (PSI) for Jul rose by 2.9 percentage points (ppts) to 54.1%, signaling a stronger expansion in the services sector – see figure 1

For the first time since Feb 2014, all five activity sub-indexes were above the 50% expansion/contraction threshold in Jul, although new orders and supplier deliveries sub-indexes reported lower readings. Sales jumped 7.6 ppts in Jul to 60.9% – see table 1.

Some local services sectors are benefitting from the stronger housing market activity, low interest rate and lower Australian dollars. Measures for small businesses announced in the 2015-2016 Federal Budget also contributed to the improvement in PSI. However, weak economic outlook, low investment and volatile consumer confidence continued to dampen demand for services.

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Note from Publisher
i Capital will pause its publication for one week in the week beginning 8 Apr. However, www.icapital.biz will be updated as usual. Apart from the public holidays, the operating hours of our Kuala Lumpur office will be as usual. Volume 35, number 32 of i Capital will henceforth be dated 18-24 Apr 2024.

Some people have accused i Capital and Tan Teng Boo of being pro-China and they are very uncomfortable with it. Well, according to a recent survey conducted by an independent think-tank in Singapore, for the first time since the survey was conducted, there are more people in ASEAN favouring China over the US – see this week’s write-up on Hong Kong for more. The shift in sentiment is not surprising given the US brazen hypocrisy, fondness of playing moral police, and forcing her views and values on others. In the past, small countries had to endure US bullying silently. Now, the rise of China has provided ASEAN and developing countries in general the courage to voice their dissatisfactions with the US. In the end, the truth always prevails.
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