02.08.201818:56:00UTC+00Australia Performance Of Service Index Tumbles In July - AiG

The service sector in Australia continued to expand in July, albeit at a much slower rate, the latest survey from the Australian Industry Group revealed on Friday with a Performance of Service Index score of 53.6.

That's down sharply from 63.0 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The index has been expanding for 17 straight months.

Individually, stocks, sales, employment and new orders all continued to expand - although at a lower rate. Deliveries fell into contraction.