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Australian PSI®: Virus concerns disrupt services businesses

The Australian Industry Group Australian Performance of Services Index (Australian PSI®) fell by 0.4 points to 47.0 in February – a third month of decline for Australia's services industries following a minor improvement in the second half of 2019 (results below 50 points indicate contraction, with the distance from 50 points indicating the strength of the decrease).

Respondents to the Australian PSI® said following the disruption to consumer demand and business conditions from bushfires and related smoke pollution, February was close to a return to business as usual but at a reduced level. The most frequently reported concern for businesses was the effect of a possible global pandemic of coronavirus COVID-19.

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