AIG Performance of Service Index (Australia) - Definition

American International Group tracks monthly developments in the services sector in Australia and condenses the data into an index. This composite index is based on sales, employment, inventories, new orders and deliveries. The index excludes manufacturing sectors that are volatile and seasonal. Thus the index provides a clean picture of the Australian service sector that accounts for the majority of Australian GDP. The headline figure uses 50 as baseline. Index above 50 indicates growth and below 50 confirms contraction in the sector.

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