Australia April Services Industry Gauge Drops by Most in a Year
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A gauge of Australia’s services industry dropped in April by the most in a year as sales, new orders and employment declined amid weakening domestic demand.
The performance of services index fell to 44.1 from 49.6 in March, the Australian Industry Group and Commonwealth Bank of Australia said in Sydney today. The 5.5 point drop was the biggest since April 2012 and the gauge hasn’t been above 50, the dividing line between expansion and contraction, since January last year.