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. source: Markit Economics

Services Sentiment in Australia averaged 51.93 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 September of 2021.

Services Sentiment in Australia is expected to be 44.90 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

Actual Previous Highest Lowest Dates Unit Frequency
44.90 42.90 58.80 19.50 2016 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-08-03 11:00 PM Markit Services PMI Final Jul 44.2 56.8 44.2
2021-08-22 11:00 PM Markit Services PMI Flash Aug 43.3 44.2 42
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 42.9 44.9
2021-10-21 10:00 PM Markit Services PMI Flash Oct
2021-11-02 10:00 PM Markit Services PMI Final Oct
2021-11-22 10:00 PM Markit Services PMI Flash Nov


News Stream
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 Services Sector Shrinks the Most in 15 Months
The IHS Markit Australia Services PMI was down to 43.3 in August 2021 from 44.2 in July. The latest reading indicated the second consecutive month of contraction in the sector and the lowest reading since May 2020, dragged down by the extension of mobility restrictions including lockdowns for more than half of Australia’s population into August. Domestic and foreign demand both fell for the second month in a row, while employment shrank for the first time since October 2020. Cost pressures, meanwhile, eased slightly, with output price inflation accelerating as service providers continued to pass on higher cost burdens to customers. Lastly, sentiment improved to a four-month high, on hopes that the vaccine rollout will enable further reopening of the economy.
2021-08-22
Australia Services PMI Contracts to a 14-Month Low
The IHS Markit Australia Services PMI plunged to a 14-month low of 44.2 in July from 56.8 in the previous month, the final reading showed. The reading signalled 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, input Input costs accelerated to a level just shy of the May record, while firms continued to pass on these costs to clients.
2021-08-03

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.