The IHS Markit Australia Services PMI increased to 57.0 in December of 2020 from 55.1 in the previous month but below a preliminary estimate of 57.4, a final reading showed. It was the highest reading in five months and the fourth consecutive expansion in the services sector, with both business activity and new orders expanding further. At the same time, employment levels continued to rise for a second month in December. On the price front, input costs increased for a seventh consecutive month, while output prices followed the same trend. Finally, sentiment remained at high levels in December, reflecting hopes of a return to pre-pandemic levels of activity. source: Markit Economics
Services Sentiment in Australia averaged 51.89 points from 2016 until 2020, 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 January of 2021.
Services Sentiment in Australia is expected to be 54.50 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 54.50 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.