Australian Performance of Service Index

The services sector was mixed in April, with the latest seasonally adjusted Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (Australian PSI®) increasing by 5.0 points to 51.5. ■ The monthly Australian PSI® result was largely driven by solid increases in the employment and inventory sub-components of the index. ■ Nonetheless, businesses in the services sector continue to face challenging conditions following five consecutive months of decline and with sales, new orders, and deliveries contracting further in April. ■ Businesses have reported that selling price growth has recently picked up, which is likely to partly reflect