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.

Services PMI in Australia averaged 49.94 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 July of 2020. source: Australian Industry Group

Services PMI in Australia is expected to be 30.00 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
31.60 27.10 63.00 27.10 2003 - 2020 points Monthly
SA


News Stream
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 Services Activity Shrinks at the Fastest Pace in 11 Years
The Australian Industry Group Australian Performance of Services Index declined to 38.7 in March 2020 from 47 in the previous month. The latest reading pointed to the fourth consecutive contraction in the services sector and to the sharpest since March 2009, amid disruptions due to the coronavirus pandemic. Sales dropped to an all-time low and new orders index fell to its lowest level since 2013. Meanwhile, the job shedding rate slowed and inventories continued to shrink but the rate of contraction eased. On the price front, input prices jumped sharply amid disruptions in supply chains and the Australian dollar weakness; while output cost declined. Finally, businsses that responded early in the survey collection period for March were generally still optimistic, but as activity restrictions were progressively announced, respondents became far more pessimistic amid rising uncertainty over the impact of the coronavirus pandemic.
2020-04-06
Australia Services Activity Shrinks for 3rd Month
The Australian Industry Group Australian Performance of Services Index rose to 47 in February 2020 from 46.6 in the previous month. The latest reading pointed to the third consecutive contraction in the services sector, amid a widespread drought, a bushfire emergency and the coronavirus outbreak. Output continued to decline and the job shedding rate accelerated to its highest level since early 2012. Meanwhile, new orders returned into positive territory, after contracting for two consecutive months and capacity utilisation was broadly stable, remaining well above its long-run average. On the price front, input prices jumped, while selling prices fell. Looking ahead, the most frequently reported concern for businesses was the effect of a possible global pandemic of coronavirus, as supply disruptions become more extensive and the spread outside China accelerated.
2020-03-05

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.