The Judo Bank Australia Services PMI revised higher to 48.6 in January 2023, from preliminary estimates of 48.3, compared to 47.3 in the previous month. It marked a fourth consecutive month of contraction in services as the index remained below the 50.0 neutral level. Growth in new orders led to a slower fall in activity, as demand for services rose for the first time since September. New Business Activity Index and the New Export Activity Index increased as exports rose to the highest level in six months as optimism rose on re-opening of the Chinese market. As such, business confidence reached to an eight-month high level. Input costs continued to rise but at the slowest in one year. Higher input material, transport and manpower costs contributed to the increased operating expenses faced by service providers. source: Markit Economics
Services Sentiment in Australia averaged 51.92 points from 2016 until 2023, 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 February of 2023.
Services Sentiment in Australia is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.