The Australian Industry Group Australian Performance of Services Index fell slightly dropping 0.3 points to 47.7 points in October 2022 indicating contraction for the second month. The PSI indicated contraction in the services sector in October, the second month of declining results. Results were mixed – business & property services showed the strongest month-on-month decline and logistics the largest improvement. Logistics was the only service sector in growth. Sales, deliveries and stocks all indicated substantial deterioration; new orders and employment were positive and improved from September. Services capacity utilization remained elevated, rising to 79.9%. This reflects tight employment conditions. Wet weather and flooding events, cumulative interest rate increases, and labor shortages were key concerns for businesses. source: Australian Industry Group

Services PMI in Australia averaged 50.10 points from 2003 until 2022, reaching an all time high of 63.00 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 2022.

Services PMI in Australia is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Performance Services Index is projected to trend around 51.00 points in 2023 and 53.00 points in 2024, according to our econometric models.

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Australia Performance Services Index



Related Last Previous Unit Reference
Services PMI 47.70 48.00 points Oct 2022
Manufacturing PMI 49.60 50.20 points Oct 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
47.70 48.00 63.00 27.10 2003 - 2022 points Monthly
SA

News Stream
Australia Performance Services Index Indicates Further Contraction
The Australian Industry Group Australian Performance of Services Index fell slightly dropping 0.3 points to 47.7 points in October 2022 indicating contraction for the second month. The PSI indicated contraction in the services sector in October, the second month of declining results. Results were mixed – business & property services showed the strongest month-on-month decline and logistics the largest improvement. Logistics was the only service sector in growth. Sales, deliveries and stocks all indicated substantial deterioration; new orders and employment were positive and improved from September. Services capacity utilization remained elevated, rising to 79.9%. This reflects tight employment conditions. Wet weather and flooding events, cumulative interest rate increases, and labor shortages were key concerns for businesses.
2022-11-07
Australia Services Activity Shrinks in September
The Australian Industry Group Australian Performance of Services Index slumped to 48.0 in September of 2022 from 53.3 in August, pointing to a contraction in the services sector after a rise in the previous two months. Both sales and new orders declined, amid low consumer and business confidence following repeated interest rate rises and persistent inflation. Meantime, employment and inventories went up at slower paces, while capacity utilization fell to the lowest result since November 2021. On prices, input cost inflation increased further, despite moderation in selling prices. Among sub-sector, transport, storage, and wholesale trade contracted substantially, along with health & education; and business & property dropped for the fifth month. At the same time, activity in retail trade & hospitality slowed sharply.
2022-10-10
Australia Services Sector Growth Picks Up in August
The Australian Industry Group Australian Performance of Services Index rose 1.6 points to 53.3 points in August of 2022, pointing to the overall resilience of the sector with sales, employment and new orders all higher than in July. Consumer-oriented sectors generally fared better in August. Retail trade & hospitality improved as did health, education & community services. Three of the services activity indicators were positive and improved – reflecting pockets of resilience – two contracted. Services capacity utilisation rose to 83.7%, the highest result since May 2021. Customer demand in some sectors remains robust, but labour shortages and concerns that future demand will decline were key themes for businesses.
2022-09-06