The Australian Industry Group Australian Performance of Services Index declined to 48.7 points in December 2019 from 53.7 a month earlier, adding to calls for stimulus. It marked the first month of decline following four months of positive prints. The sales index fell 2.8 points to 49.6, while the new orders index plummeted 10.3 points to 48.2. Inventories (down 4.4 points to 43.1) and deliveries (down 7.9 points to 42.8) also both declined after remaining stable in the previous month, while the employment index stayed positive (down 0.2 points to 54.2). On the price front, the input prices index fell 3.1 points to 60 and the selling prices index declined 5.6 points to 46.7.
Services PMI in Australia averaged 49.22 points from 2003 until 2019, reaching an all time high of 63 points in June of 2018 and a record low of -53.70 points in November of 2019. This page provides the latest reported value for - Australia Performance Services Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Australian Industry Group
Services PMI in Australia is expected to be 51.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Australia to stand at 52.20 in 12 months time. In the long-term, the Australia Performance Services Index is projected to trend around 53.00 points in 2020, according to our econometric models.