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Activity in Australia's services sector declined in January, according to survey results released Wednesday by the Australian Industry Group and Commonwealth Bank of Australia.
The AIG/Commonwealth Performance of Services index dropped 2.6 points from December to a reading of 47.4. Readings below 50.0 indicate contraction in the sector.
The January result showed the first level of contraction in the services sector in four months.
Survey results showed activity in all sub-categories decreased except for Transport and Storage.
Despite a slight increase in sales, activity in the sector fell heavily and new orders/supplier deliveries continued to decline.
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