The IHS Markit Australia Services PMI was revised slightly higher to 55.7 in November of 2021 from a preliminary of 55. The reading confirms the second consecutive month of expansion in the sector due to a further easing of COVID-19 restrictions, following three months of contraction between July and September. Overall business sentiment in the Australian service sector remained positive despite the price pressures faced. Both business activity and new orders were seen growing at faster rates. In turn, employment levels continued to increase while backlogged work accumulated. Cost pressures hit a record high for service providers, while overall sentiment continued to improve in November. source: Markit Economics

Services Sentiment in Australia averaged 52 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 December of 2021.

Services Sentiment in Australia is expected to be 50.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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


Calendar GMT Actual Previous Consensus TEForecast
2021-11-22 10:00 PM Markit Services PMI Flash Nov 55 51.8 54
2021-12-02 10:00 PM Markit Services PMI Final Nov 55.7 51.8 55
2021-12-15 10:00 PM Markit Services PMI Flash Dec 55.7


Related Last Previous Unit Reference
Composite PMI 55.70 52.10 points Nov/21
Services Sentiment 55.70 51.80 points Nov/21
Industrial Sentiment 59.20 58.20 points Nov/21

News Stream
Australia Services Sector Confirms Faster Expansion of Activity
The IHS Markit Australia Services PMI was revised slightly higher to 55.7 in November of 2021 from a preliminary of 55. The reading confirms the second consecutive month of expansion in the sector due to a further easing of COVID-19 restrictions, following three months of contraction between July and September. Overall business sentiment in the Australian service sector remained positive despite the price pressures faced. Both business activity and new orders were seen growing at faster rates. In turn, employment levels continued to increase while backlogged work accumulated. Cost pressures hit a record high for service providers, while overall sentiment continued to improve in November.
2021-12-02
Australia Service Sector Growth Accelerates in November
The IHS Markit Australia Services PMI rose to a five-month high of 55.0 in November 2021, from 51.8 in the previous month, a preliminary estimate showed. The latest reading marked a second straight month of expansion in the sector due to a further easing of COVID-19 restrictions. Inflows of new business increased by the most since June and employment growth accelerated to meet the increased operating capacity needs. On the price front, input cost inflation jumped to a survey record rate while output prices also continued to rise, amid constraints across supply, transportation and labor. Finally, business optimism improved in November.
2021-11-23
Australia Services Sector Confirms Return to Growth
The IHS Markit Australia Services PMI was revised slightly lower to 51.8 in October of 2021 from a preliminary of 52. Still, the reading indicated a return to expansion following three months of contraction, helped by the further easing of restrictions in Australia. Both business activity and new orders saw growth for the first time since June. Also, employment continued to increase following a higher demand, while costs worsened as inputs prices kept increasing. Meanwhile, firms post a greater optimism for the next 12 months, with a continued relaxation of restrictions imposed throughout the covid-19 pandemic as the business confidence index improved to a level slightly above the series average.
2021-11-02

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.