The IHS Markit Australia Services Index was revised lower to 58.0 in May of 2021 from a preliminary estimate of 58.2 and compared to April's 58.8. While output and business inflows increased at a softer pace compared to records seen in April, sustained rises in orders and activity encouraged firms to hire extra staff at a record pace. On the price front, rates of both input cost and output charge inflation reached new highs. Finally, business confidence remained high, with the degree of optimism easing only slightly from the prior month. source: Markit Economics

Services Sentiment in Australia averaged 52.26 points from 2016 until 2021, reaching an all time high of 58.80 points in April of 2021 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 June of 2021.

Services Sentiment in Australia is expected to be 59.00 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
58.00 58.80 58.80 19.50 2016 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-04-22 11:00 PM Markit Services PMI Flash Apr 58.6 55.5 55
2021-05-04 11:00 PM Markit Services PMI Final Apr 58.8 55.5 58.6
2021-05-20 11:00 PM Markit Services PMI Flash May 58.2 58.8 59
2021-06-02 11:00 PM Markit Services PMI Final May 58.0 58.8 58.2
2021-06-22 11:00 PM Markit Services PMI Flash Jun 58.0 59
2021-07-04 11:00 PM Markit Services PMI Final Jun 58.0
2021-07-22 11:00 PM Markit Services PMI Flash Jul
2021-08-03 11:00 PM Markit Services PMI Final Jul


News Stream
Australia Services PMI Revised Lower
The IHS Markit Australia Services Index was revised lower to 58.0 in May of 2021 from a preliminary estimate of 58.2 and compared to April's 58.8. While output and business inflows increased at a softer pace compared to records seen in April, sustained rises in orders and activity encouraged firms to hire extra staff at a record pace. On the price front, rates of both input cost and output charge inflation reached new highs. Finally, business confidence remained high, with the degree of optimism easing only slightly from the prior month.
2021-06-02
Australia Services PMI Eases from Record High
The IHS Markit Australia Services PMI decreased to 58.2 in May of 2021, down from a record 58.8 in the previous month, preliminary data showed. Demand continued to grow and supported the expansion of business activity for a ninth consecutive month, while it also encouraged businesses to hire extra staff at a record pace. On the price front, both input cost and output charge continued to rise.
2021-05-20
Australia Services PMI Climbs to Highest Level on Record
The IHS Markit Australia Services PMI increased to a record 58.8 in April of 2021 from 55.5 in the previous month, and above a preliminary estimate of 58.6, a final reading showed. The easing of lockdown restrictions improved consumer confidence and demand, while the Australia-New Zealand travel bubble boosted a renewed rise in new exports sales. Also, the pace of job creation was firm and matched February’s record peak. On the price front, both input and output prices rose faster. Finally, business sentiment over the year-ahead outlook remained positive, with firms optimistic that a further recovery from the COVID-19 pandemic to continue supporting an uptick in client demand.
2021-05-04
Australia Services PMI Climbs to Highest Level on Record
The IHS Markit Australia Manufacturing PMI jumped to a record 59.6 in April of 2021 from 56.8 in the previous month, preliminary data showed. The three largest sub-indexes of the PMI, new orders, production and employment, all grew over the month. The rate of job creation was the second-quickest on record, just behind February 2018. On the price front, rates of both input cost and output charge inflation reached new highs.
2021-04-22

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.