November 2021 - Overview

Services broadly stable in November

The Australian Industry Group Australian Performance of Services Index (Australian PSI®) rose by 2.0 points to 49.6 points (seasonally adjusted) in November 2021 marking a return to broadly stable conditions following three months of decline. Results below 50 points indicate contraction in the Australian PSI®, with lower numbers indicating a stronger contraction.

Two of the five services sectors available in the Australian PSI® in November reported growth and three reported contractionary conditions (seasonally adjusted). Logistics and health, education & community services expanded in November as they did in October. The contraction in business & property services, retail trade and ‘personal, recreational & other services’ eased in November in line with reduced restrictions. Two of the five activity indicators in the Australian PSI® rose in November (seasonally adjusted). The sales and employment indexes were both positive, but both decelerated slightly from the previous month. New orders, supplier deliveries and finished stocks all contracted but the rate of contraction moderated in November compared to October.