The Commonwealth Bank Services PMI for Australia declined to 48.4 in February 2020 from 50.6 in the previous month and missing market expectations of 52.4, a flash estimate showed. The latest reading pointed to the sharpest contraction the services sector on record, as new orders declined for the first time since March last year and employment and backlogs of work fell across the sector. On the price front, input cost inflation slowed to a ten-month low while output prices rose modestly. Australia Commonwealth Bank Services PMI - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.
Services Sentiment in Australia averaged 53.17 points from 2016 until 2020, reaching an all time high of 58.40 points in March of 2017 and a record low of 48.40 points in February of 2020. This page provides - Australia Commonwealth Bank Services PMI- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Markit Economics
Services Sentiment in Australia is expected to be 50.60 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 51.70 in 12 months time. In the long-term, the Australia Commonwealth Bank Services PMI is projected to trend around 52.50 points in 2021, according to our econometric models.