The services sector in Australia moved back up into expansion territory, the latest survey from Judo Bank revealed on Wednesday with a services PMI score of 51.8.
That's up from 47.8 in August and it moves back above the boom-or-bust line of 50 that separates expansion from contraction for the first time in three months.
After a modest fall in August, incoming new business returned to growth in the latest survey period. Moreover, the pace of expansion was the most pronounced in fifteen months. This was underpinned by better underlying demand conditions according to survey respondents.
Greater tourism activity and increased international student intakes were also mentioned by panelists, which led to higher new export business.
