The Australian Industry Group Australian Performance of Services Index edged up to 61.2 in May of 2021 from 61 in April, pointing to the strongest result in the services sector since October of 2003. Business conditions on average continued to improve and sales, new orders and employment all indicated good levels of future demand. Activity from the construction sector was a key driver of demand for some services segments in May. Some respondents noted increased purchasing commitments from customers who had previously paused their plans. Input shortages, supply chain disruption, staff shortages and ongoing uncertainty continue to be of concern. The data for the report was collected before the latest Victorian lockdown began. to 59.0 in May of 2021 from a near 3-year high of 61.0 in the previous month, pointing to a slightly slower expansion in the service sector. source: Australian Industry Group
Services PMI in Australia averaged 49.96 points from 2003 until 2021, reaching an all time high of 63 points in June of 2018 and a record low of 27.10 points in April of 2020. This page provides the latest reported value for - Australia Performance Services Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Performance Services Index - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Services PMI in Australia is expected to be 60.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Australia to stand at 54.00 in 12 months time. In the long-term, the Australia Performance Services Index is projected to trend around 51.00 points in 2022 and 53.00 points in 2023, according to our econometric models.