The Australian Industry Group Australian Performance of Services Index fell to 36.2 in September of 2020 from 43.5 in the previous month. The latest reading pointed to the tenth consecutive contraction in the services sector and sharpest since June, as renewed coronavirus-induced restrictions in Melbourne weighted heavily on business activity in Victoria and across other states. All indicators were firmly negative in September, with the indices for sales, new orders and supplier deliveries decreasing significantly from the previous month.
Services PMI in Australia averaged 49.72 points from 2003 until 2020, reaching an all time high of 63 points in June of 2018 and a record low of 27.10 points in April of 2020. This page provides the latest reported value for - Australia Performance Services Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Performance Services Index - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Australian Industry Group
Services PMI in Australia is expected to be 40.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Australia to stand at 46.00 in 12 months time. In the long-term, the Australia Performance Services Index is projected to trend around 50.50 points in 2021 and 53.00 points in 2022, according to our econometric models.