AS51
S&P/ASX 200
8,772.30
-0.75% (-66.70)
Market read
The services PMI expansion signals improved activity in Australia's non-manufacturing sector, which represents a significant portion of economic output. A reading above 50 indicates growth; the month-on-month increase suggests strengthening service-sector momentum that could influence ASX sentiment and the Australian dollar's relative performance against major currency pairs.
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@financialjuice · 07/24, 06:00 AM
Market reactionAustralia's S&P Global flash services PMI rose to 53 in July from 50.5 in June.
The services PMI expansion signals improved activity in Australia's non-manufacturing sector, which represents a significant portion of economic output. A reading above 50 indicates growth; the month-on-month increase suggests strengthening service-sector momentum that could influence ASX sentiment and the Australian dollar's relative performance against major currency pairs.
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