The Australian Industry Group Australian Performance of Services Index (Australian PSI®) rose by 1.6 points to 57.8 points (seasonally adjusted) in April 2022 indicating growth and at a faster pace than March 2022. Results above 50 points indicate expansion in the Australian PSI® , with higher numbers indicating a stronger rate of growth.

• Four of the five sectors available in the Australian PSI® expanded in April; two at a slower rate than March. Respondents reported solid demand, particularly from construction sector customers.
• All services activity indicators were positive, but new orders grew slower than the very elevated rates of previous months, reflecting a moderation of the rebound following a reduction in COVID restrictions.
• Services capacity utilisation rose to 82.3%, an all-time high for this series. Businesses report plans to increase capacity by expanding employment and investment.
• Positively, some businesses reported improvements in supplier deliveries and back orders, loosening a major challenge for the sector. However staff shortages, rising input prices and wages, and difficulties sourcing stock continue to constrain expansion.