The IHS Markit Australia Services PMI increased to 52 in October of 2021 from 45.5 in September, a flash estimate showed. The reading indicated a return to expansion following three months of contraction, helped by the further easing of restrictions in Australia. New business saw growth for the first time since June, although foreign demand remained subdued amid the persistent closure of international borders. Hiring activity was seen in the service sector for a second straight month, just as backlogged work started to build again after three months of decline. However, cost pressures persisted as service sector firms experienced a surge in input cost pressures while output charges continued to increase at a rate comparable to September. Finally, business confidence improved to the highest level since February with firms cheering the easing of lockdown restrictions and the ensuing improvement to consumer confidence and demand. source: Markit Economics

Services Sentiment in Australia averaged 51.95 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 October 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
2021-09-02 11:00 PM Markit Services PMI Final Aug 42.9 44.2 43.3
2021-09-22 11:00 PM Markit Services PMI Flash Sep 44.9 42.9 44
2021-10-04 10:00 PM Markit Services PMI Final Sep 45.5 42.9 44.9
2021-10-21 10:00 PM Markit Services PMI Flash Oct 52 45.5 48
2021-11-02 10:00 PM Markit Services PMI Final Oct 45.5 52
2021-11-22 10:00 PM Markit Services PMI Flash Nov
2021-12-02 10:00 PM Markit Services PMI Final Nov
2021-12-15 10:00 PM Markit Services PMI Flash Dec


News Stream
Australia Services Sector Returns to Growth
The IHS Markit Australia Services PMI increased to 52 in October of 2021 from 45.5 in September, a flash estimate showed. The reading indicated a return to expansion following three months of contraction, helped by the further easing of restrictions in Australia. New business saw growth for the first time since June, although foreign demand remained subdued amid the persistent closure of international borders. Hiring activity was seen in the service sector for a second straight month, just as backlogged work started to build again after three months of decline. However, cost pressures persisted as service sector firms experienced a surge in input cost pressures while output charges continued to increase at a rate comparable to September. Finally, business confidence improved to the highest level since February with firms cheering the easing of lockdown restrictions and the ensuing improvement to consumer confidence and demand.
2021-10-21
Australia Services PMI Revised Higher
The IHS Markit Australia Services PMI was revised higher to 45.5 in September of 2021 from a preliminary estimate of 44.9 and compared to August's 42.9. The latest reading pointed to the slowest rate of contraction in the current three-month sequence of falls as COVID-19 lockdowns continued to affect demand and activity in the sector. That said, a slight easing of restrictions in some areas enabled a slower contraction of business activity and saw employment levels return to growth in September. Overall price pressures meanwhile remained steep for service providers while overall optimism softened from August.
2021-10-04
Australia Services Sector Shrinks for 3rd Month
The IHS Markit Australia Services PMI increased to 44.9 in September 2021 from 44.9 in August. This marked a third consecutive month of service sector contraction, albeit at the slowest pace in the current sequence. Extensions of lockdown conditions for various Australian states through September continued to affect service sector performance. That said, some easing of mobility restrictions in the country enabled demand and activity to fall at slower rates in September. Service providers also increased their workforce levels amid optimism regarding the year ahead. Cost pressures however sustained for service sector firms with input cost inflation rising in September while output charges increased at the fastest rate seen since June’s survey record.
2021-09-22
Australia Services Sector Shrinks More than Initially Thought
The IHS Markit Australia Services PMI was revised lower to 42.9 in August of 2021 from a preliminary estimate of 43.3 and compared to July's 44.2. The latest reading indicated the second consecutive month of contraction in the sector and at the fastest pace since May 2020, amid extended lockdowns across various Australian states due to a recent COVID-19 wave. Business activity and demand remained under pressure while employment levels fell for the first time in ten months. At the same time, price pressures persisted amid sustained COVID-19 disruptions. Looking forward, business sentiment was the strongest since June, supported by hopes that the COVID-19 situation will improve and eventually spur a recovery.
2021-09-02

Australia Last Unit Reference Previous Highest Lowest
Composite PMI 52.20 points Oct/21 46.00 58.90 21.70
Services Sentiment 52.00 points Oct/21 45.50 58.80 19.50
Industrial Sentiment 57.30 points Oct/21 56.80 60.40 44.00


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.