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psi jan 13 report final (1).pdf

psi jan 13 report final (1).pdf

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Published by Belinda Winkelman

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Published by: Belinda Winkelman on Feb 04, 2013
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08/01/2013

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Slow Start to the year for ServiceS Sector
january 2013
  u  K  S  e  r  v  i  c  e  S  i  n  D  e  X  u  S  a  S  e  r  v  i  c  e  S  i  n  D  e  X  a  u  S  t  r  a  l  i  a  n   P  S  i
   ®
  e  u  r  o  Z  o  n  e  S  e  r  v  i  c  e  S  i  n  D  e  X
Supported by:
Key finDingS
■
The latest seasonally adjusted Australian Industry Group/ Commonwealth Bank Australian Perormance o Services Index(
Australian PSI
®
) rose 2.1 points in January, though at 45.3,remains well below the critical 50 point level separating expansionrom contraction.
■
The services sector was weighed down by urther alls in sales andnew order levels while employment levels in the sector were broadlyunchanged in the month.
■
Businesses, particularly in the property & business services sub-sector,reported that the recent declines in mining sentiment and the valueo international coal & iron ore exports have hampered activity.
■
In act, a number o businesses reported that slowing activity inthe mining sector was the most important actor inuencing salesin January.
■
Businesses in the retail trade sub-sector also noted that activityduring the January sales period was relatively quiet in comparison toprevious years.
■
On a more positive note or the sector, the selling price index pickedup in January to its highest level since October 2011.
SectorS
■
On a seasonally adjusted basis, our sub-sectors expanded inJanuary, up rom only one in December (i.e. the activity index othe industry was above 50 points).
■
Businesses in the accommodation, caes & restaurants sub-sectorreported a sharp rise in activity during the month, while the fnance& insurance, health & community services and personal & recreationalservices sub-sectors recorded more modest increases in activity.
■
On the other hand, the property & business services andcommunication services sub-sectors reported particularly sharpalls in activity.
■
A number o businesses in these sub-sectors reported that recentdeclines in mining sector sentiment and continued weaknessacross residential and non-residential property markets arehampering activity.
■
Activity continued to all back in the retail and wholesale tradesub-sectors during January, marking the end o a quiet holidaytrading period.
SaleS anD caPacit
■
On a seasonally adjusted basis, sales levels contracted urtherin January.
■
The sales component o the
Australian PSI
®
rose 0.5 points to 43.4points but remains well below the critical 50 point level separatingexpansion rom contraction.
■
The sales sub-index was weighed down by sharp declines in salesacross the fnance & insurance, wholesale trade, and property &business services sub-sectors.
■
On the other hand, modest sales growth was recorded in theaccommodation, caes, and restaurants and personal & recreationalservices sub-sectors.
■
Capacity utilisation in the services sector (which is not seasonallyadjusted) decreased by 0.2 points to 75.2%, which is in line withthe average level recorded since the start o 2010.
2530354045505560
   D   i   f   f  u  s   i  o  n   I  n   d  e  x
   I  n  c  r  e  a  s   i  n  g   D  e  c  r  e  a  s   i  n  g
   A  p  r   1   0   J  u   l  y   1   0   O  c   t   1   0   J  a  n   1   1   A  p  r   1   1   J  u   l  y   1   1   O  c   t   1   1   J  a  n   1   2   A  p  r   1   2   J  u   l  y   1   2   O  c   t   1   2   J  a  n   1   3
3 month moving averageAustralian PSI
®
 
Wholesale tradeRetail tradeAccommodation, cafes & restaurantsTransport & storageCommunication servicesFinance & insuranceProperty & business servicesHealth & community servicesPersonal & recreational servicesPSI
IncreasingDecreasing
Diffusion IndexDec 12Jan 13
0 10 20 30 40 50 60 70 80 90 100
253035404550556065
   A  p  r   1   0   J  u   l  y   1   0   O  c   t   1   0   J  a  n   1   1   A  p  r   1   1   J  u   l  y   1   1   O  c   t   1   1   J  a  n   1   2   A  p  r   1   2   J  u   l  y   1   2   O  c   t   1   2   J  a  n   1   3
   D   i   f   f  u  s   i  o  n   I  n   d  e  x
Capacity UtilisationSales
   C  a  p  a  c   i   t  y   U   t   i   l   i  s  a   t   i  o  n   %    (   U  n  a   d   j .   )
55606570758085
45.3
3035404550556065
47.8
DECNOVDECNOVDEC
3035404550556065
48.9
30354045505560653035404550556065
DECJAN
56.1
NOV

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