(RTTNews) - Australia’s services sector saw an increase in activity in October, according to a report released Wednesday by the Australian Industry Group and Commonwealth Bank of Australia.

The Performance of Services Index for October increased 5.5 points to 54.8 from the September reading of 49.3.

Readings above 50.0 indicate growth of activity in the measured sector. The October reading was the first indication of expansion in four months and the highest index level in 19 months.

The sales of services sub-index was up 11.3 points to 59.7, new orders were up 7.8 points to 58.5 but employment in the sector fell 1.3 points to 48.6.

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Posted in Categories: Australia, Economy, Releases.

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