The Australian Industry Group Australian Performance of Services Index (Australian PSI®) fell by 6.1 points to 45.6 points (seasonally adjusted) in August 2021. This was the same size fall as July 2021 and the lowest result since September 2020. Results below 50 points indicate contraction in the Australian PSI®, with lower numbers indicating a stronger contraction.
All of the services sectors available in the Australian PSI® in August indicated steady conditions or contraction. None reported growth in the month (seasonally adjusted). Of the five activity indicators in the Australian PSI®, employment remained positive while all other indicators shrank. Sales, new orders and inventories fell sharply, while supplier deliveries
deteriorated further, after also contracting in July (seasonally adjusted).