The IHS Markit Australia Services PMI was revised lower to 42.9 in August of 2021 from a preliminary estimate of 43.3 and compared to July's 44.2. The latest reading indicated the second consecutive month of contraction in the sector and at the fastest pace since May 2020, amid extended lockdowns across various Australian states due to a recent COVID-19 wave. Business activity and demand remained under pressure while employment levels fell for the first time in ten months. At the same time, price pressures persisted amid sustained COVID-19 disruptions. Looking forward, business sentiment was the strongest since June, supported by hopes that the COVID-19 situation will improve and eventually spur a recovery. source: Markit Economics
Services Sentiment in Australia averaged 52.05 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 September of 2021.
Services Sentiment in Australia is expected to be 46.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Markit Services PMI is projected to trend around 53.50 points in 2022, according to our econometric models.