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.
Participate in the survey
Each survey takes no more than one minute to complete and provides you with access to last month's report.
Click here to participate