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.

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Australia Markit Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
55.50 53.40 58.40 19.50 2016 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-02-18 10:00 PM Markit Services PMI Flash Feb 54.1 55.6 54
2021-03-02 10:00 PM Markit Services PMI Final Feb 53.4 55.6 54.1
2021-03-23 10:00 PM Markit Services PMI Flash Mar 56.2 53.4 53.8 54
2021-04-06 11:00 PM Markit Services PMI Final Mar 55.5 53.4 56.2
2021-04-22 11:00 PM Markit Services PMI Flash Apr 55.5
2021-05-04 11:00 PM Markit Services PMI Final Apr 55.5
2021-05-20 11:00 PM Markit Services PMI Flash May
2021-06-02 11:00 PM Markit Services PMI Final May
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Australia Services PMI Revised Lower
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.
2021-04-06
Australia Services PMI Rises Further
The IHS Markit Flash Australia Services Index inched up to 56.2 in March from 53.4 in the previous month, preliminary data showed. The increase was mainly nudged by a faster pace in new orders. Survey members reported that softer COVID-19 restrictions, low borrowing costs, marketing efforts and improved market conditions nudged demand. On the price front, there was a sharp and accelerated increase in input costs, while the rate of charge inflation was broadly similar from the previous month.
2021-03-23
Australia Markit Services PMI Slows Down
The IHS Markit Australia Services PMI decreased to 53.4 in February 2021, down from 55.6 in the previous month and compared to a preliminary estimate of 54.1, final data showed. Stringent international border restrictions reduced export orders for the thirteenth month running. That said, the decline was the softest since last July. Meanwhile, the pace of hiring accelerated to the quickest rate in the survey history. On the price front, input costs continued, as average cost burdens faced by firms in services increased for the ninth straight month. Looking ahead, business expectations for activity over the coming 12 months remained strong in February, with the level of confidence strengthening from the previous survey period to the highest since August 2018.
2021-03-02
Australia Services PMI Drops in February
The IHS Markit Australia Services PMI decreased to 54.1 in February 2021, down from 55.6 in the previous month, preliminary data showed. New orders and activity rose further. Meanwhile, backlogs of work increased for the first time in seven months and nudged employment higher. On the price front, the rate of input cost inflation accelerated to the fastest in just over three-and-a-half years, often due to higher staff costs but with increased fuel prices also mentioned. Output prices were raised at a solid pace, albeit one that was fractionally softer than in January. Looking ahead, confidence in the 12-month outlook strengthened.
2021-02-18

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.