The AiG Performance of Services Index for January is out and shows a little improvement up 2 points to a less appalling 45.3:
- The services sector was weighed down by further falls in sales and new order levels while employment levels in the sector were broadly unchanged in the month.
- Businesses, particularly in the property & business services sub-sector, reported that the recent declines in mining sentiment and the value of international coal & iron ore exports have hampered activity.
- In fact, a number of businesses reported that slowing activity in the mining sector was the most important factor influencing sales in January.
- Businesses in the retail trade sub-sector also noted that activity during the January sales period was relatively quiet in comparison to previous years.
- On a more positive note for the sector, the selling price index picked up in January to its highest level since October 2011.
The employment and sales components both fell at a slower pace:
But the leading new orders component fell again:
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Not a great report all up, with a few rays of hope.