Australia’s service sector hits 26-month low as PMI plunges into contraction amid inflation spike

AI Briefing

• – Australia's service sector hits 26-month low as PMI plunges into contraction amid inflation spike.
• – The S&P Global Australia Services PMI Business Activity Index fell to 46.3 in March 2026, larger than initial estimates of a 46.6 contraction.
• – This marks the first contraction in 26 months and the sharpest decline since