Australia AiG Performance of Services Index dropped from 43.0 to 38.7 in March. That’s the lowest level since March 2009 and the fourth month of contracting results. AiG said, “the services sector is now entering a difficult period of pandemic-related closures and adjustments from a base already weakened by summer’s bushfire crisis and by longer-term factors”.
“Restrictions on human movement and gatherings means closures for many businesses in hospitality, retail, transport, recreation, personal services, education and even community services. Businesses that remain open face falling sales and increasing operational restrictions.”
