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.

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Australia Markit Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
57.00 55.10 58.40 19.50 2016 - 2020 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-22 10:00 PM Markit Services PMI Flash Nov 54.9 53.7 53.5
2020-12-02 10:00 PM Markit Services PMI Final Nov 55.1 53.7 54.9
2020-12-15 10:00 PM Markit Services PMI Flash Dec 57.4 55.1 54.7
2021-01-05 10:00 PM Markit Services PMI Final Dec 57.0 55.1 57.4
2021-01-21 10:00 PM Markit Services PMI Flash Jan 57.0 56.5
2021-02-02 10:00 PM Markit Services PMI Final Jan 57.0
2021-02-18 10:00 PM Markit Services PMI Flash Feb
2021-03-02 10:00 PM Markit Services PMI Final Feb


News Stream
Australia Services PMI at 5-Month High
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.
2021-01-05
Australia Markit Services PMI Rises Further
The IHS Markit Australia Services PMI increased to 57.4 in December of 2020 from 55.1 in November of 2020, preliminary data showed. It was the highest reading in five months and the fourth consecutive expansion in the services sector. Respondents underscored softer COVID-19 restrictions and strengthening demand, low interest rates, government stimulus and improved housing market activity. Meanwhile, hiring reached a 41-month high. On the inflation front, input costs rose at a slower rate, while output charges increased for the first time in three months.
2020-12-15
Australia Markit Services PMI at 55.1
The IHS Markit Australia Services PMI increased to 55.1 in November of 2020 from 53.7 in the previous month and compared to a preliminary ready of 54.9, a final reading showed. It was the highest reading in four months and the third consecutive expansion in the services sector. Respondents underscored that a further easing of measures to control the spread of the coronavirus pandemic was a key reason for the rise in activity. On the price front, input costs rose at the fastest pace in over two years, and, consequently, output charges increased for the first time in three months.
2020-12-02
Australia Services PMI Climbs to 4-month High
The IHS Markit Australia Services PMI increased to 54.9 in November of 2020 from 53.7 in the previous month, a flash estimate showed. It was the highest reading in four months and the third consecutive expansion in the services sector, as the continued rise in production contributed to a renewed growth in employment. On the price front, input costs rose at the fastest pace in over two years, and, consequently, output charges increased for the first time in three months.
2020-11-22

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.