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.