The IHS Markit Flash Australia Services Index was revised lower to 55.5 in March 2021 from a preliminary estimate of 56.2 and compared to February's 55.6. Still, the reading signalled a further expansion in activity and new business, while steady demand urged firms to increase employment levels for the fifth straight month. On the price front, input cost continued to rise amid higher raw material prices, which, in turn, drove output cost higher. Finally, business expectations for the year-ahead outlook remained positive. source: Markit Economics
Services Sentiment in Australia averaged 52.04 points from 2016 until 2021, reaching an all time high of 58.40 points in March of 2017 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 April of 2021.
Services Sentiment in Australia is expected to be 54.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Sentiment in Australia to stand at 52.00 in 12 months time. In the long-term, the Australia Markit Services PMI is projected to trend around 53.50 points in 2022, according to our econometric models.