The Australian Industry Group Australian Performance of Services Index declined to 48.7 points in December 2019 from 53.7 a month earlier, adding to calls for stimulus. It marked the first month of decline following four months of positive prints. The sales index fell 2.8 points to 49.6, while the new orders index plummeted 10.3 points to 48.2. Inventories (down 4.4 points to 43.1) and deliveries (down 7.9 points to 42.8) also both declined after remaining stable in the previous month, while the employment index stayed positive (down 0.2 points to 54.2). On the price front, the input prices index fell 3.1 points to 60 and the selling prices index declined 5.6 points to 46.7.

Services PMI in Australia averaged 49.22 points from 2003 until 2019, reaching an all time high of 63 points in June of 2018 and a record low of -53.70 points in November of 2019. 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. source: Australian Industry Group

Services PMI in Australia is expected to be 51.60 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 52.20 in 12 months time. In the long-term, the Australia Performance Services Index is projected to trend around 53.00 points in 2020, according to our econometric models.


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Australia Performance Services Index

Actual Previous Highest Lowest Dates Unit Frequency
48.70 53.70 63.00 32.50 2003 - 2019 points Monthly
SA

News Stream
2019-11-04
Australia Service Sector Gains Steam: AIG
The AIG Australian Performance of Services Index climbed to 54.2 in October 2019 from 51.5 in the previous month. New orders rose 0.4 points to 55.0, and sales advanced 7.5 points to 56.1. In addition, employment jumped 4.2 points to 54.7. On the price front, input prices edged down 0.8 points to 59.3, and selling prices decreased 1.5 points to 44.5. Meanwhile, the most dynamic sectors were finance & insurance (up 3.4 points to 63.8) and transport & storage (up 1.8 points to 52.0). In contrast, wholesale trade fell 3.6 points to 38.7.

2019-10-02
Australia Performance Services Index Edges Up
The AIG Australian Performance of Services Index inched up to 51.5 in September 2019 from 51.4 in the previous month. New orders rose 3.2 points to 54.6, and sales advanced 1.1 points to 48.6, still remaining in contraction territory. In contrast, employment declined 4.7 points to 50.5. On the price front, input prices fell 3.3 points to 60.1, and selling prices decreased 1.5 points to 46. Meanwhile, the most dynamic sectors were health & education (+0.1 to 62.8) and finance & insurance (+2.5 to 57.8). In contrast, wholesale trade fell 3.2 points to 43.3.

2019-09-03
Australia Services Index Back to Expansion
The AIG Australian Performance of Services Index rose to 51.4 in August 2019 from an over five-year low of 43.9 in the previous month. New orders (+7.3 points to 51.4) and employment (+11.4 points to 55.2) returned to expansion and finished stocks (4.7 points to 50.9) and supplier deliveries (+11.8 points to 52.3) increased. Meantime, sales went up 2.4 points to 47.5 points, still remaining in contraction territory. By sector, health & education recorded the strongest growth (+3.0 points to 65.2) while the retail trade sector continued to perform weakly (-0.2 points to 45.2). On the price front, input costs rose 2.4 points to 63.4, whereas selling prices increased 1.7 points to 47.5.

2019-08-04
Australia Service Activity Falls the Most in 4-1/2 Years
The AIG Australian Performance of Services Index plunged 8.3 points from the previous month to 43.9 in July 2019, pointing to the steepest month of contraction in the service sector since November 2014. All five activity indexes in the Australian PSI were negative in July: sales (-8.0 points to 45.1); employment (-3.8 points to 43.8); new orders (-12.7 points to 44.1); supplier deliveries (-12.3 points to 40.5); and finished stocks (-3.4 points to 46.2). Factors reported to be inhibiting activity for many businesses in July included soft sales to retail customers, slower sales into the construction sector, increased price competition within sectors, drought conditions affecting large parts of Australia and generally low business and consumer confidence.

2019-07-02
Australia Services Activity Growth Eases in June
The AIG Performance of Services Index in Australia edged down to 52.2 in June 2019 from an eight-month high of 52.5 in May. The latest reading pointed to a weaker expansion in the services activity in 2019, employment (-4.6 points to 47.6); finished stocks (-2.2 points to 49.6); and supplier deliveries (-2.5 points to 52.8) dropped. Meanwhile, sales jumped 4.7 points to 53.1 and new orders gained 1.2 points to 56.8. On the price front, input cost went down 2.3 points to 57.1 and selling prices declined 2.3 points to 45.4. Meantime, average wages decreased 5 points to 57.3 and capacity utilisation fell 1.6 percent to 79.3 percent.

2019-06-04
Australia Services Sector Returns to Growth
The AIG Performance of Services Index in Australia rose to 52.5 in May 2019 from 46.5 in April. The latest reading pointed to the first expansion in the services activity in 2019, as new orders (+11 points to 55.6); employment (+6.2 points to 52.2); supplier deliveries (+10.2 points to 55.3) and finished stocks (+2.4 points to 51.8) returned to growth. Meanwhile, sales edged down 0.3 points to 48.4. On the price front, selling prices advanced 5.6 points to 47.7, still it remained in contraction territory, whereas input prices went up 1.4 points to 59.4. By industries, both communications (+0.2 to 34.9 points) and transport & storage (-1.5 to 39.9 points) kept shrinking. In contrast, hospitality booked the highest gain (+4.1 to 60.1).


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.

Australia Business Last Previous Highest Lowest Unit
Business Confidence -2.00 0.00 21.00 -30.00 points [+]
Services PMI 48.70 53.70 63.00 32.50 points [+]
Manufacturing PMI 48.30 48.10 62.50 29.47 points [+]
Industrial Production 1.90 1.30 12.60 -7.60 percent [+]
Industrial Production Mom 1.20 0.70 5.20 -7.10 percent [+]
Manufacturing Production -3.10 -1.70 8.60 -11.80 percent [+]
Capacity Utilization 81.07 81.68 84.62 78.24 percent [+]
New Orders 31.00 25.00 49.00 -37.00 points [+]
Changes in Inventories -941.00 -1366.00 4265.00 -3885.00 AUD Million [+]
Bankruptcies 748.00 741.00 1123.00 217.00 Companies [+]
Corporate Profits 97460.00 98235.00 98235.00 12032.00 AUD Million [+]
Total Vehicle Sales 84239.00 84708.00 130300.00 48099.00 [+]
Car Registrations 14330.43 14078.57 14330.43 3990.94 Thousand [+]
Leading Economic Index -0.09 -0.15 0.54 -1.11 percent [+]
Small Business Sentiment 1.21 0.84 18.55 -21.17 [+]
Internet Speed 11063.10 10098.33 11063.10 1922.87 KBps [+]
IP Addresses 9859878.00 9310525.00 13859005.00 5227461.00 IP [+]
Industrial Sentiment 49.10 49.20 57.20 49.10 points [+]
Private Investment -0.20 -0.60 15.70 -8.50 percent [+]
Mining Production 6.50 3.80 25.20 -16.90 percent [+]
Services Sentiment 48.90 49.80 58.40 48.70 points [+]
Steel Production 448.33 488.24 819.00 238.00 Thousand Tonnes [+]
Corruption Index 77.00 77.00 88.60 77.00 Points [+]
Corruption Rank 12.00 13.00 13.00 7.00 [+]
Competitiveness Index 78.75 78.85 78.85 5.08 Points [+]
Competitiveness Rank 16.00 14.00 22.00 14.00 [+]
Composite Pmi 48.60 49.60 58.30 48.60 points [+]
Business Inventories -0.40 -1.00 2.80 -2.80 percent [+]
Ease of Doing Business 14.00 18.00 18.00 9.00 [+]