Australia AiG September services index 48.0 vs 53.3 prior | Forexlive

• Prior was 53.3
• The input prices index increased from August, but growth in selling prices and average wages indexes
  moderated from August – all remain elevated
• There are reports of burnout among current staff. Increased uncertainty around future demand, particularly
  related to the effect of higher interest rates, was a key concern for respondents. Some reported a slowdown in enquiries
  customers particularly from the construction sector.
  Australian PSI®
  key numbers
  (seasonally adjusted)
  Index
  this month
  Change
  from
  last month
  Historical
  average
  Australian

This is the lowest since October 2021 and indicates that rate hikes are beginning to bite.