Australia Performance of Services Index rose 2.9 pts to 58.7 in March. That’s the highest monthly result since June 2018. All five services sectors indicated “strong rates of recovery”. Four activity indicators – sales, new orders, stocks and deliveries – showed “robust recovery”. However, Employment index indicated “stably or mildly decreasing employment”.
Ai Group Chief Executive, Innes Willox, said: “While areas of vulnerability clearly remain, the strong lift in new orders is an encouraging sign that the services sector as a whole is well positioned to work through the winding down of fiscal stimulus in the next few months.”
