Economic Buzz: Australian services activity declines in October

Australia's services industry moved into decline in October, with the headline figure dropping below the 50 no-change mark for the first time since May, S&P Global said on Monday.

The seasonally adjusted S&P Global Australia Services PMI Business Activity Index came in at 48.5, down from 51.9 in September, and the lowest in seven months, the report said. The composite PMI was 48.2 in October, down from 51.3 in September.

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