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.