The Australian Industry Group Australian Performance of Services Index fell to 57.8 in June of 2021 from a near 3-year high of 61.2 in the previous month. The latest reading pointed to the weakest expansion in the services sector since last February, due to the impact of lockdowns in Victoria and other states, mostly observed in lower readings for new orders (56.6 from 68.3 in May), sales (66.1 from 68.6) and employment (54.2 from 56.6). On the price front, both input and output prices moderated from the previous month, while wage growth accelerated in June. Business activity continued to advance in all service sub-sectors, with the steepest expansion seen in business & property (62.1 from 59.6), as government stimulus supported demand for services that supply or support residential construction. Improvements were also seen in health & education (58.3 from 56.8) and logistics services (66.2 from 65.1), while activity in retail trade & hospitality eased (57.7 from 58.1). source: Australian Industry Group

Services PMI in Australia averaged 49.99 points from 2003 until 2021, 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 2021.

Services PMI in Australia is expected to be 58.00 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 52.00 in 12 months time. In the long-term, the Australia Performance Services Index is projected to trend around 51.00 points in 2022 and 53.00 points in 2023, according to our econometric models.

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Australia Performance Services Index

Actual Previous Highest Lowest Dates Unit Frequency
57.80 61.20 63.00 27.10 2003 - 2021 points Monthly
SA


News Stream
Australia Services Sector Growth Slows in June
The Australian Industry Group Australian Performance of Services Index fell to 57.8 in June of 2021 from a near 3-year high of 61.2 in the previous month. The latest reading pointed to the weakest expansion in the services sector since last February, due to the impact of lockdowns in Victoria and other states, mostly observed in lower readings for new orders (56.6 from 68.3 in May), sales (66.1 from 68.6) and employment (54.2 from 56.6). On the price front, both input and output prices moderated from the previous month, while wage growth accelerated in June. Business activity continued to advance in all service sub-sectors, with the steepest expansion seen in business & property (62.1 from 59.6), as government stimulus supported demand for services that supply or support residential construction. Improvements were also seen in health & education (58.3 from 56.8) and logistics services (66.2 from 65.1), while activity in retail trade & hospitality eased (57.7 from 58.1).
2021-07-06
Australia Service Sector Growth Strongest since 2003
The Australian Industry Group Australian Performance of Services Index edged up to 61.2 in May of 2021 from 61 in April, pointing to the strongest result in the services sector since October of 2003. Business conditions on average continued to improve and sales, new orders and employment all indicated good levels of future demand. Activity from the construction sector was a key driver of demand for some services segments in May. Some respondents noted increased purchasing commitments from customers who had previously paused their plans. Input shortages, supply chain disruption, staff shortages and ongoing uncertainty continue to be of concern. The data for the report was collected before the latest Victorian lockdown began. to 59.0 in May of 2021 from a near 3-year high of 61.0 in the previous month, pointing to a slightly slower expansion in the service sector.
2021-06-06
Australia Services PMI Hits Highest Level Since 2018
The Australian Industry Group Australian Performance of Services Index jumped to 61.0 in April of 2021 from 58.7 in the previous month. It was the highest reading since June of 2018.
2021-05-06
Australia Services PMI Hits Highest Level Since 2018
The Australian Industry Group Australian Performance of Services Index jumped to 58.7 in March of 2021 from 55.8 in the previous month. It was the highest reading since June of 2018, with sales, new orders, stocks, and deliveries showing a robust recovery while employment was close to stable in March.
2021-04-09

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.