The Australian Industry Group Australian Performance of Services Index rose to 51.4 in October of 2020 from 36.2 in the previous month, as temporary restrictions in Melbourne were eased. The latest reading pointed to the first expansion after ten consecutive contractions and follows the sharpest since June, as activity rebounded sharply nudged by the indices for sales and new orders. The improvement comes after the Australian central bank cut interest rates to a new low and after a rally in global markets following the US presidential race. source: Australian Industry Group
Services PMI in Australia averaged 49.73 points from 2003 until 2020, 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 December of 2020.
Services PMI in Australia is expected to be 40.00 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 46.00 in 12 months time. In the long-term, the Australia Performance Services Index is projected to trend around 50.50 points in 2021 and 53.00 points in 2022, according to our econometric models.