(RTTNews) - Activity in Australia’s services sector expanded for the first time in nearly a year and a half in June, according to survey results released Friday by the Australian Industry Group and Commonwealth Bank of Australia.

The survey index rose 10.3 points to 50.2, with readings above 50.0 indicating expansion of activity in the sector.

It marked the first reading over the 50.0 mark in 15 months.

AIG spokeswoman Heather Ridout said the PSI results “suggest that services sector activity strengthened more broadly in June on the back of rising consumer confidence, low interest rates and the government’s cash stimulus.”

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Posted in Categories: Australia, Economy, Releases.

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