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.