The latest AIG Performance of Services Index for October has just been released with activity now contracting at the fastest pace seen since August last year. Every component within the survey sits now below the 50 level that separates expansion from contraction. New orders held steady at 43.9 although employment, after bouncing strongly in September, fell 5.3pts to 46.8. As an economy that is heavily skewed towards services this is somewhat concerning.
To read the AIG report in full follow this link: