Services Sector Shows Continuing Growth

LATEST AUSTRALIAN BUSINESS NEWS

The Australian service industry sector, including retail, has shown continuing growth over the last recording period.

An index of Australian service industry performance rose to a six month high in July due to an increase in business at hotels, restaurants and retail outlets. The Australian Industry Group – a major employer association – has issued its latest data based on industry orders, sales, deliveries and inventory levels. The latest index shows that there has been a 2.6% in these base measures for the month June to July 2005. The Group has said that from the index it can ascertain that there is a continuing expansion of service industry activity.

Retail trade in particular has shown an increase of 1.3%, in the face of what was expected to have been a slow period, due to relatively mild winter weather and some apparent levelling off of overall consumer spending. The overall level of Australian retail spending was $17.2billion for the month of June.

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David

david.taylor@agarcarlyon.com