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- The Australian Services Index (PSI) fell 1.4 points to 51.1 points, indicating slower growth m/m
The Australian Services Index (PSI) fell 1.4 points to 51.1 points, indicating slower growth m/m
The Australian Services Index (PSI) fell 1.4 points to 51.1 points (seasonally adjusted), indicating slower growth in October 2018 compared to September and the average of 2018. Results above 50 points indicate expansion in the Australian PSI, with higher numbers indicating stronger growth rates.
The Australian PSI indicated expansion in five of its nine sectors in October (trend). All business-oriented services sectors reported slower conditions than in September. The largest of these, business and property services, slowed but continued to report broadly positive conditions due to high levels of infrastructure construction activity. The consumer-oriented services sectors were mostly positive, with hospitality (cafes and restaurants) and retail trade reporting stronger conditions (trend).
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