Performance of Services Index - March 2021

March 2021 - OVERVIEW

Stronger sales and new orders for the services sectors in March

The Australian Industry Group Australian Performance of Services Index (Australian PSI®) rose by 2.9 points to 58.7 points (seasonally adjusted) in March 2021 indicating a stronger pace of recovery following the COVID-19 recession of 2020. This was the highest monthly result in the Australian PSI® since June 2018. Results above 50 points indicate expansion in the Australian PSI®, with higher numbers indicating a stronger expansion.

All five of the services sectors available in the Australian PSI® in March indicated strong rates of recovery, with monthly results well above 50 points (seasonally adjusted). Four activity indicators - sales, new orders, stocks and deliveries - showed robust recovery in the month but the employment index indicated stable or mildly decreasing employment in March.

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