Australian Industry Group’s services purchasing managers’ index for Australia rises to 51.5 in May

Market news

3 June 2016

Australian Industry Group’s services purchasing managers’ index for Australia rises to 51.5 in May

The Australian Industry Group (AiG) released its services purchasing managers' index (PMI) for Australia on the late Thursday evening. The index rose to 51.5 in May from 49.7 in April.

A reading above 50 indicates expansion in the sector, while a reading below 50 indicates contraction in the sector.

Three of the five activity sub-indexes were above 50 points in May. The increase was mainly driven by rises in new orders, sales and stock levels.

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