The Australian Industry Group Australian Performance of Services Index rose to 51.4 in October of 2020 from 36.2 in the previous month, as temporary restrictions in Melbourne were eased. The latest reading pointed to the first expansion after ten consecutive contractions and follows the sharpest since June, as activity rebounded sharply nudged by the indices for sales and new orders. The improvement comes after the Australian central bank cut interest rates to a new low and after a rally in global markets following the US presidential race. source: Australian Industry Group

Services PMI in Australia averaged 49.73 points from 2003 until 2020, reaching an all time high of 63 points in June of 2018 and a record low of 27.10 points in April of 2020. This page provides the latest reported value for - Australia Performance Services Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Performance Services Index - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Services PMI in Australia is expected to be 40.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Australia to stand at 46.00 in 12 months time. In the long-term, the Australia Performance Services Index is projected to trend around 50.50 points in 2021 and 53.00 points in 2022, according to our econometric models.

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Australia Performance Services Index

Actual Previous Highest Lowest Dates Unit Frequency
51.40 36.20 63.00 27.10 2003 - 2020 points Monthly
SA


News Stream
Australia Services Sector Expands Again
The Australian Industry Group Australian Performance of Services Index rose to 51.4 in October of 2020 from 36.2 in the previous month, as temporary restrictions in Melbourne were eased. The latest reading pointed to the first expansion after ten consecutive contractions and follows the sharpest since June, as activity rebounded sharply nudged by the indices for sales and new orders. The improvement comes after the Australian central bank cut interest rates to a new low and after a rally in global markets following the US presidential race.
2020-11-05
Australia Services Activity Shrinks at a Faster Pace in September
The Australian Industry Group Australian Performance of Services Index fell to 36.2 in September of 2020 from 43.5 in the previous month. The latest reading pointed to the tenth consecutive contraction in the services sector and sharpest since June, as renewed coronavirus-induced restrictions in Melbourne weighted heavily on business activity in Victoria and across other states. All indicators were firmly negative in September, with the indices for sales, new orders and supplier deliveries decreasing significantly from the previous month.
2020-10-06
Australia Services Activity Contracts Further
The Australian Industry Group Australian Performance of Services Index fell to 43.5 in August of 2020 from 44 in the previous month. The latest reading pointed to the ninth consecutive contraction in the services sector and at a faster pace than in July as renewed coronavirus-induced restrictions in Melbourne weighted heavily on business activity in Victoria and across other states.
2020-09-06
Australia Services PMI Still in Contraction
The Australian Industry Group Australian Performance of Services Index climbed to 44 in July 2020 from 31.5 in the previous month. The latest reading pointed to the eighth consecutive contraction in the services sector amid fears of a second wave of coronavirus cases and further lockdowns.
2020-08-06

Australia Performance Services Index
The Australian Industry Group Australian Performance of Services Index (Australian PSI®) is a leading indicator of services activity in the Australian economy. The Australian PSI is a seasonally adjusted national composite index based on the diffusion indices for sales, orders/new business, deliveries, inventories and employment with varying weights. An Australian PSI® reading above 50 points indicates that services activity is generally expanding; below 50, that it is declining. The distance from 50 is indicative of the strength of the expansion or decline. Results are based on a sample of around 200 companies each month.