Australia’s S&P Global Services PMI Final rose slightly to 52.5 from the previous 52.4, indicating a marginal improvement in the services sector activity. This increase of 0.1 points suggests a continued expansion, albeit at a slower pace.
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The actual figure of 52.5 fell short of the analyst estimate of 53.1, which may dampen market sentiment slightly. The services sector, a significant component of the Australian economy, could see mixed reactions in the stock market, with service-oriented stocks potentially underperforming. The impact is likely to be short-term as investors reassess growth expectations.