Australia Services Sector Accelerates In March - Judo

(RTTNews) - The services sector in Australia continued to expand in March, and at a faster pace, the latest survey from Judo Bank revealed on Thursday with a services PMI score of 54.4.

That's up from 53.1 in February, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Underpinning the latest acceleration in services activity growth was a second straight month of new business gains in March. Improvements in client demand and greater enquiries led to higher new work inflows. The transport & storage sector recorded the sharpest growth in new sales, followed by consumer services, according to detailed sector data.

In contrast, new export business fell in March on the back of a reduction in overseas demand. New export business has now fallen five times in the last six months, though only fractionally during March.