Economics Resource Centre

Performance of Services Index - November 2019

Australian PSI®
Down 1.5 points
(seasonally adjusted)

53.7

Australian PSI®
Up 0.7 points
(trend)

53.7
 

Next Release: 10 January 2020

November 2019 - OVERVIEW

Business conditions drop down a gear in November

The Australian Industry Group Australian Performance of Services Index (Australian PSI®) fell by 1.5 points to 53.7 points in November 2019 (seasonally adjusted). This marked four months of positive but moderating conditions, with a deceleration in November. Results above 50 points indicate expansion in the Australian PSI® with higher numbers indicating stronger growth.

The Australian PSI® indicated expansion in three sectors, stability in one sector and contraction in two sectors in November (trend). Among the business-oriented sectors finance & insurance reported positive results, logistics (wholesale trade, transport & storage) was stable, while business & property services contracted. Among the consumer-oriented segments ‘retail trade & hospitality’ and ‘personal, recreational and other services’ were positive, while ‘health, education & community services’ contracted slightly. Three activity indicators in the Australian PSI® were positive and indicating growth in November. Most positively for the months ahead, new orders strengthened significantly. Employment and sales decelerated but remained positive.

 

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