Australian Industry Group Performance of Services Index
61.0 is the highest monthly result since October 2003. Highlights from the report:
- All five of the services sectors are in expansion
- All five activity indicators – sales, new orders, employment, stocks, and deliveries – showed positive and improving results in the month
- Survey participants said that business conditions on average continued to improve
- Demand from construction sector customers remains especially robust
- Increased demand for local tourism, new customers, a rise in demand for services and reduced competition all led to conditions moving closer to pre-pandemic levels across a greater range of sectors.
- Some respondents are concerned about input shortages and delivery disruptions, which seems to be particularly affecting materials and components for the construction sectors.
- Staff shortages and ongoing uncertainty about the outlook remain key concerns for many services sector businesses.
And thus completes the last of the six PMIs from Australia for the month of April.