Australia Services PMI

Last Release

Mar 31, 2024

Actual

53.5

Units In

Points

53.1

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
63 Jun 2018	27.1 Apr 2020	50.07 Points	2003-2024	Australian Industry Group

The Australian Industry Group Australian Performance of Services Index (Australian PSI®) is a leading indicator of services activity in the Australian economy. The Australian PSI is a seasonally adjusted national composite index based on the diffusion indices for sales, orders/new business, deliveries, inventories and employment with varying weights. An Australian PSI® reading above 50 points indicates that services activity is generally expanding; below 50, that it is declining. The distance from 50 is indicative of the strength of the expansion or decline. Results are based on a sample of around 200 companies each month.

Latest Updates

The Judo Bank Flash Australia Services PMI Business Activity Index rose to 53.5 in March from 53.1 in February, indicating a second consecutive expansion and the fastest pace since last April. This growth was driven by sustained new business growth, supported by increased queries and improving demand conditions. Employment growth was also maintained at the end of the first quarter. Despite this, both input costs and output prices rose at softer rates, although they remained above their respective averages. Overall sentiment improved, with business confidence reaching its highest level in seven months, driven by expectations of better sales in the coming year.