Economics Resource Centre

Performance of Services Index - August 2020

Australian PSI®
Down 1.5 points
(seasonally adjusted)


Australian PSI®
Up 2.1 points


Next Release: 7 October 2020

August 2020 - OVERVIEW

Melbourne lockdown contributes to services decline in August

The Australian Industry Group Australian Performance of Services Index (Australian PSI®) fell by 1.5 points to 42.5 points in August 2020 (seasonally adjusted), indicating a further contraction in activity and at a faster pace than in July. Results below 50 points indicate contraction in the Australian PSI® with lower numbers indicating a stronger pace of decline.

The Australian PSI® continued to indicate contraction in all sectors in August (trend). The introduction of stage 4 restrictions in the greater Melbourne area following some optimism in July weighed heavily on business activity in Victoria and the impact was felt across other states. All indicators were firmly negative for August and employment decreased significantly from the previous month.


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