The IHS Markit Australia Services PMI plunged to 44.2 in July from a revised 56.8 in the previous month, a preliminary estimate showed. The reading pointed to a contraction in the services sector after ten consecutive months of growth amid renewed restrictions as coronavirus cases resurged in some parts across the country. Demand conditions were affected by those mobility restrictions, with overall business activity plunging. On the price front, both input and output cost pressures eased. source: Markit Economics

Services Sentiment in Australia averaged 52.20 points from 2016 until 2021, reaching an all time high of 58.80 points in April of 2021 and a record low of 19.50 points in April of 2020. This page provides - Australia Commonwealth Bank Services PMI- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Markit Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.

Services Sentiment in Australia is expected to be 56.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Sentiment in Australia to stand at 52.00 in 12 months time. In the long-term, the Australia Markit Services PMI is projected to trend around 53.50 points in 2022, according to our econometric models.

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Australia Markit Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
44.20 56.80 58.80 19.50 2016 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-06-02 11:00 PM Markit Services PMI Final May 58.0 58.8 58.2
2021-06-22 11:00 PM Markit Services PMI Flash Jun 56 58.0 59
2021-07-04 11:00 PM Markit Services PMI Final Jun 56.8 58.0 56
2021-07-22 11:00 PM Markit Services PMI Flash Jul 44.2 56.8 55.5
2021-08-03 11:00 PM Markit Services PMI Final Jul 56.8 44.2
2021-08-22 11:00 PM Markit Services PMI Flash Aug
2021-09-02 11:00 PM Markit Services PMI Final Aug
2021-09-22 11:00 PM Markit Services PMI Flash Sep


News Stream
Australia Services PMI Contracts to a 14-Month Low
The IHS Markit Australia Services PMI plunged to 44.2 in July from a revised 56.8 in the previous month, a preliminary estimate showed. The reading pointed to a contraction in the services sector after ten consecutive months of growth amid renewed restrictions as coronavirus cases resurged in some parts across the country. Demand conditions were affected by those mobility restrictions, with overall business activity plunging. On the price front, both input and output cost pressures eased.
2021-07-22
Australia Services Growth Stays Robust
The IHS Markit Australia Services PMI was at 56.8 in June 2021, compared with the preliminary figure of 56.0 and after a final 58.0 a month earlier, pointing to the tenth straight month of expansion. However, the latest reading was the lowest reading since March, affected by the lockdown in the state of Victoria that extended into June. New business grew for the tenth straight month but at a slower pace; while foreign demand expanded for the third month running, but likewise experienced slower growth. At the same time, outstanding business continued to rise, though at a slower rate as firms continued to ramp up their operating capacity. However, the pace at which hiring activity increased moderated, with some firms citing shortages of labor limiting their recruitment. Prices data showed input prices rose for the thirteenth month, on higher transport cost and wages. As a result, output charges inflation accelerating to a fresh survey record. Looking ahead, sentiment remained positive.
2021-07-04
Australia Services PMI Slows to 3-Month Low
The IHS Markit Australia Services PMI decreased to a three-month low of 56 in June of 2021, down from 58 in the previous month, preliminary data showed. Business activity and employment growth momentum slowed with Australia’s Victoria state lockdown affecting business conditions. On the price front, input costs rose at a softer while output charge inflation reached new highs.
2021-06-22
Australia Services PMI Revised Lower
The IHS Markit Australia Services Index was revised lower to 58.0 in May of 2021 from a preliminary estimate of 58.2 and compared to April's 58.8. While output and business inflows increased at a softer pace compared to records seen in April, sustained rises in orders and activity encouraged firms to hire extra staff at a record pace. On the price front, rates of both input cost and output charge inflation reached new highs. Finally, business confidence remained high, with the degree of optimism easing only slightly from the prior month.
2021-06-02

Australia Markit Services PMI
The IHS Markit Services PMI is based on data compiled from monthly replies to questionnaires sent to a representative panel of purchasing executives in over 400 private sector services firms in Australia. The panel is stratified by GDP and company workforce size. The services sector is divided into the following five broad categories: Transport & Storage, Consumer Services, Information & Communication, Finance & Insurance and Real Estate & Business Services. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.