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.

Services PMI in Australia averaged 49.82 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 August of 2020. source: Australian Industry Group

Services PMI in Australia is expected to be 36.00 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 47.00 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
44.00 31.50 63.00 27.10 2003 - 2020 points Monthly
SA


News Stream
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 Services PMI Little Changed
The Australian Industry Group Australian Performance of Services Index edged down to 31.5 in June 2020 from 31.6 in the previous month. The latest reading pointed to the seventh consecutive contraction in the services sector amid fears of a second wave of coronavirus cases and further lockdowns. The job shedding rate accelerated and both new orders and supplier deliveries shrank at a faster pace. Inventory levels and sales continued to contract albeit at a softer rate after hitting record lows in April. Finally, sentiment remained negative amid worries over demand and concerns regarding government stimulus ending is leading to uncertainty about the future. "The Ill-considered closure of the NSW-Victoria border will pull the rug out from under any recovery and is chaos in the making," Innes Willox, Chief Executive of the national employer association Ai Group said.
2020-07-06
Australia Services PMI Recovers Modestly
The Australian Industry Group Australian Performance of Services Index increased to 31.6 in May 2020 from 27.1 in the previous month. The latest reading pointed to the sixth consecutive contraction in the services sector but recovered from sharpest on record, as the easing of some social isolation restrictions improved conditions. New orders gained 7 points to 30.1 and production increased 3.4 points to 28.2, while employment rose by 6.2 points to 35. Conditions deteriorated in each of the major areas of activity: services, construction and manufacturing. In contrast, stability was observed in food, grocery and medical manufacturing, wholesaling and retailing. On the price front, deflationary cost pressures persisted as local and global demand fell.
2020-06-04
Australia Services Sector Activity Shrinks at Record Pace
The Australian Industry Group Australian Performance of Services Index declined to 27.1 in April 2020 from 38.7 in the previous month. The latest reading pointed to the fifth consecutive contraction in the services sector and the sharpest on record, as it was the first full month of restrictions due to the coronavirus pandemic. Both sales (-6.6 points to 24.6 ) and new orders (-12.2 points to 23.1) dropped to all-time lows. Employment also fell to a new low (-16.7 points to 28.7). On the price front, input charges declined sharply due to lower cost of petrol and output prices went down to a one-year low.
2020-05-06

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.