The AIG Performance of Services Index in Australia tumbled to 44.3 in January of 2019 from 52.1 in December, pointing to the first contraction in the services sector since February of 2017 and the sharpest since 2014. Big declines were seen in sales (-13.8 to 39.3), new orders (-12.6 to 45.4) and selling prices (-3.9 to 47). Also, employment remained in contraction territory (+2 to 47.5) and average wages eased (-7.4 to 55.2). Retail trade and increasingly, wholesale trade, are the weakest services sectors in early 2019. Several other key services sectors also appear to be slowing. Services businesses reported weak customer demand in January due to drought conditions in some areas of Australia, a decline in building activity for others and a deterioration in consumer spending. Services PMI in Australia averaged 50.27 Index Points from 2003 until 2019, reaching an all time high of 63 Index Points in June of 2018 and a record low of 32.50 Index Points in February of 2009.

Services PMI in Australia is expected to be 53.50 Index 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 51.20 in 12 months time. In the long-term, the Australia Performance Services Index is projected to trend around 52.20 Index Points in 2020, according to our econometric models.

Australia Performance Services Index
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Australia Business Last Previous Highest Lowest Unit
Business Confidence 4.00 3.00 21.00 -30.00 Index Points [+]
Manufacturing PMI 52.50 50.00 62.50 29.47 [+]
Services PMI 44.30 52.10 63.00 32.50 Index Points [+]
Industrial Production 2.80 4.30 12.60 -7.60 percent [+]
Industrial Production Mom -0.80 0.70 5.10 -7.00 percent [+]
Manufacturing Production -0.70 2.10 8.60 -11.80 percent [+]
Capacity Utilization 81.45 81.97 84.62 78.24 percent [+]
New Orders 34.00 31.00 49.00 -37.00 Index Points [+]
Changes in Inventories 47.00 1223.00 4159.00 -3845.00 AUD Million [+]
Bankruptcies 564.00 705.00 1123.00 217.00 Companies [+]
Corporate Profits 90221.00 88576.00 90221.00 12032.00 AUD Million [+]
Total Vehicle Sales 87528.00 93860.00 130300.00 48099.00 [+]
Car Registrations 14078.61 13815.11 14078.61 3990.94 Thousand [+]
Leading Economic Index -0.22 -0.09 0.54 -1.10 percent [+]
Small Business Sentiment -1.12 -4.01 18.71 -21.10 [+]
Internet Speed 11063.10 10098.33 11063.10 1922.87 KBps [+]
IP Addresses 9859878.00 9310525.00 13859005.00 5227461.00 IP [+]
Private Investment -0.50 -0.90 15.60 -8.40 percent [+]
Mining Production 6.10 6.30 25.20 -16.90 percent [+]
Steel Production 449.34 420.47 819.00 238.00 Thousand Tonnes [+]
Corruption Index 77.00 77.00 88.60 77.00 Points [+]
Corruption Rank 13.00 13.00 13.00 7.00 [+]
Competitiveness Index 78.85 78.17 78.85 5.08 Points [+]
Competitiveness Rank 14.00 15.00 22.00 14.00 [+]
Composite Pmi 51.50 52.40 58.30 51.50 Index Points [+]
Business Inventories 0.00 0.70 2.80 -2.80 percent [+]
Ease of Doing Business 18.00 14.00 18.00 9.00 [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
44.30 52.10 63.00 32.50 2003 - 2019 Index Points Monthly
SA




Country Last Previous
Australia 44.30 Jan/19
Brazil 52.00 Jan/19
China 53.60 Jan/19
Euro Area 51.20 Jan/19
France 47.80 Jan/19
Germany 53.00 Jan/19
India 52.20 Jan/19
Italy 49.70 Jan/19
Japan 51.60 Jan/19
Russia 54.90 Jan/19
Spain 54.70 Jan/19
United Kingdom 50.10 Jan/19
United States 54.20 Jan/19


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