The S&P Global Flash Australia Services PMI fell to 52.6 in June 2022 from a final reading of 53.2 in May, marking a fifth consecutive month of expansion in the Australian service sector, although at the slowest rate of growth in the current sequence. Fewer COVID-19 restrictions continued to support improvements in business activity and new orders. Similarly, new export business grew at a solid rate amid reports of travel restrictions easing. However, higher interest rates and price inflation reportedly weighed negatively upon the strength of these upturns. Australia’s service sector continued to experience intense inflationary pressures in June with both input cost and output price inflation remaining close to survey records. Despite remaining positive, overall business confidence in the service sector dropped to its lowest in over two years in June. source: Markit Economics

Services Sentiment in Australia averaged 52.18 points from 2016 until 2022, 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 2022.

Services Sentiment in Australia is expected to be 52.00 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 2023, according to our econometric models.

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Australia Markit Services PMI



Related Last Previous Unit Reference
Services Sentiment 52.60 53.20 points Jun 2022
Industrial Sentiment 56.20 55.70 points Jun 2022
Composite PMI 52.60 52.90 points Jun 2022

Australia Markit Services PMI
The S&P Global 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.
Actual Previous Highest Lowest Dates Unit Frequency
52.60 53.20 58.80 19.50 2016 - 2022 points Monthly
SA

News Stream
Australia Services PMI Eases to 5-Month Low
The S&P Global Flash Australia Services PMI fell to 52.6 in June 2022 from a final reading of 53.2 in May, marking a fifth consecutive month of expansion in the Australian service sector, although at the slowest rate of growth in the current sequence. Fewer COVID-19 restrictions continued to support improvements in business activity and new orders. Similarly, new export business grew at a solid rate amid reports of travel restrictions easing. However, higher interest rates and price inflation reportedly weighed negatively upon the strength of these upturns. Australia’s service sector continued to experience intense inflationary pressures in June with both input cost and output price inflation remaining close to survey records. Despite remaining positive, overall business confidence in the service sector dropped to its lowest in over two years in June.
2022-06-22
Australia Services PMI Slows to 4-Month Low
The S&P Global Australia Services PMI fell to 53.2 in May 2022 from a final reading of 56.1 in April, marking the 4th straight month that services output expanded, albeit at the slowest pace in the current sequence. Demand growth, spurred by the easing of border restrictions and better market conditions, supported the expansion of services output. Sub-sector data indicated that firms in the consumer services sector saw the strongest growth in sales. Meanwhile, employment levels climbed, but backlogs continued to build in May. Price pressures also persisted with both input cost and output price inflation amongst the fastest on record. Anecdotal evidence suggested firms faced higher costs across input materials, fuel and wages. Overall sentiment in the Australian service sector remained positive in May, with the level of business confidence improving to the strongest since December 2021.
2022-06-02
Australia Services PMI Slows to 4-Month Low
The S&P Global Australia Flash Services PMI fell to 53 in May 2022 from a final reading of 56.1 in April, marking the 4th straight month that services output expanded, albeit at the slowest pace in the current sequence. The easing of COVID-19 restrictions continued to support the expansions of new orders and business activity in May, though poor weather conditions and higher interest rates were blamed for the growth slowdown. New export business expanded for the third straight month following the easing of border restrictions. Price pressures persisted with both input costs and output prices rising at rates amongst the fastest on record. Higher purchase prices, fuel costs and wages were listed as items contributing to the increase in cost burdens. Overall business optimism in the service sector nevertheless improved in May.
2022-05-23