Services hum but costs bite
ACTIVITY in the Australian services sector lifted in June, expanding for the fourth straight month, but businesses are finding high energy costs a problem.
The Australian Industry Group’s Performance of Services Index ( PSI) rose 3.3 points to 54.8 points in the month, staying above the 50point level signifying expansion.
Ai Group chief Innes Willox said the services sector ended the financial year in positive territory, but conditions were patchy across the sub- sectors.
“On the business inputs side, more businesses, across a wider range of sectors, are telling us that energy pricing and availability outlook is highly challenging,” he said yesterday.
“The energy problem has become real and immediate for Australian business.”