Australian PSI® versus ABS: serviceable data?

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Ai Group’s latest Economics research note presented a strong relationship between the Australian PSI® and various ABS data on the services sector and the economy more generally.

For example, movements in the Australian PSI® are closely aligned with annual growth rates in ABS real Gross Domestic Product (GDP), real Domestic Final Demand (DFD), services gross value added (GVA) and nominal sales. This is to be expected, since the services industries collectively contribute up to 75% of the real output of the Australian economy.

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Figure: Australian PSI® versus ABS real Gross Domestic Product (GDP) Sources: Sources: Ai Group; ABS National Accounts

Our research analysis also found a ‘leading’ margin for a number Australian PSI® series in addition to the headline results.

For further details, read the full report

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Julie Toth
Julie heads the Australian Industry Group’s economics team, producing economics research, comment and policy advice for Ai Group and its members. She is also: Adjunct Professor of Economics and advisory board member at Deakin University; panel member of the Melbourne Economic Forum at the University of Melbourne; and a member of the National Economic Policy Panel of the Economics Society of Australia.

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