The Australian Industry Group Australian Performance of Services Index (Australian PSI®) fell by 3.8 points to 56.2 points (seasonally adjusted) in March 2022 indicating growth but at a slower pace than February 2022. Results above 50 points indicate expansion in the Australian PSI®, with higher numbers indicating a stronger rate of growth.

Three of the five services sectors available in the Australian PSI® expanded in March and two contracted (seasonally adjusted). Retail trade & hospitality and ‘health, education & community’ services grew but at a slower pace than February; logistics expanded at virtually the same rate. All five of the activity indicators in the Australian PSI® expanded in March,
the sales and deliveries indexes showed solid improvement, and inventories were stable (seasonally adjusted).