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.

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Australia Markit Services PMI



Calendar GMT Actual Previous Consensus TEForecast
2023-01-23 10:00 PM Judo Bank Services PMI Flash Jan 48.3 47.3 47.5
2023-02-02 10:00 PM Judo Bank Services PMI Final Jan 48.6 47.3 48.3
2023-02-20 10:00 PM Judo Bank Services PMI Flash Feb


Related Last Previous Unit Reference
Composite PMI 48.50 47.50 points Jan 2023
Services Sentiment 48.60 47.30 points Jan 2023
Industrial Sentiment 50.00 50.20 points Jan 2023

Australia Markit Services PMI
The S&P Global 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.
Actual Previous Highest Lowest Dates Unit Frequency
48.60 47.30 58.80 19.50 2016 - 2023 points Monthly
SA

News Stream
Australia Services Contraction Slows in January
The Judo Bank Australia Services PMI was 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.
2023-02-02
Australia Services PMI Contraction Slows in January
The Judo Bank Australia Services PMI was up to 48.3 in January 2023, from a final reading of 47.3 in the previous month, according to preliminary data. The result pointed to the fourth consecutive but slower contraction. Demand for Australian services contracted at a slower pace, while employment levels rose at a faster rate. Meantime, input costs continued to rise, driving the selling price higher.
2023-01-23
Australia Services Sector Book Fastest Decline Since January
The Judo Bank Australia Services PMI came in at 47.3 in December of 2022 from 47.6 in the prior month, revised higher from preliminary estimates of 46.9, and showing the third consecutive and fastest contraction since January 2022. Both domestic and foreign demand for services were negatively affected by the higher interest rate and deteriorating global economic conditions, driving new orders to continue declining. Consequently, service sector firms increased hiring more cautiously as employment rose at its slowest pace since September 2021. On the price front, input inflation fell to its lowest since February, but remained above average due to higher wage costs. Still, sentiment remained relatively positive for 2023.
2023-01-04