SERVICES GROWTH CONTINUES!
The Australian Industry Group Australian Performance of Services Index (Australian PSI®) fell by 3.4 points to 53.0 in August – a sixth consecutive month of expansion.
Ai Group Chief Executive, Innes Willox, said: “Positive momentum continued in the services sector as a whole in August with the current expansion completing its sixth month.
The report highlighted continuing growth for the wholesale, transport & storage, health & community services, property & business and finance & insurance sub-sectors.
However, both the retail and hospitality sub-sectors contracted.
Sales, new orders and employment all lifted in August and the capacity utilisation measure in the Australian PSI® recorded its highest-ever level.
Wages & Prices
Rises were recorded for both wages and input prices, while consumer inflation remained subdued with selling prices falling in the month.”
Download the full report here: