The IHS Markit Australia Services PMI decreased to 54.1 in February 2021, down from 55.6 in the previous month, preliminary data showed. New orders and activity rose further. Meanwhile, backlogs of work increased for the first time in seven months and nudged employment higher. On the price front, the rate of input cost inflation accelerated to the fastest in just over three-and-a-half years, often due to higher staff costs but with increased fuel prices also mentioned. Output prices were raised at a solid pace, albeit one that was fractionally softer than in January. Looking ahead, confidence in the 12-month outlook strengthened. source: Markit Economics
Services Sentiment in Australia averaged 51.95 points from 2016 until 2021, reaching an all time high of 58.40 points in March of 2017 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 March of 2021.
Services Sentiment in Australia is expected to be 54.50 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 54.50 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.