- prior was 48.9
- Comes in for April at 48.6, down 0.3 points
- Still in contraction
- 2 of 9 sub-sectors expanded in April
- Sales in the services sector fell relatively steeply (to 44.6 points, a drop of 5.1 points to its lowest reading since August 2013)
- New orders fell 2 pts to 49.8
- Employment, 47.7, fell again in April
The Australian Industry Group Australian Performance of Services Index is a leading indicator of services activity in the Australian economy. The 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.
