The IHS Markit Australia Services PMI decreased to 53.4 in February 2021, down from 55.6 in the previous month and compared to a preliminary estimate of 54.1, final data showed. Stringent international border restrictions reduced export orders for the thirteenth month running. That said, the decline was the softest since last July. Meanwhile, the pace of hiring accelerated to the quickest rate in the survey history. On the price front, input costs continued, as average cost burdens faced by firms in services increased for the ninth straight month. Looking ahead, business expectations for activity over the coming 12 months remained strong in February, with the level of confidence strengthening from the previous survey period to the highest since August 2018. source: Markit Economics

Services Sentiment in Australia averaged 51.95 points from 2016 until 2021, reaching an all time high of 58.40 points in March of 2017 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 March of 2021.

Services Sentiment in Australia is expected to be 54.50 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 54.50 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.

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Australia Markit Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
53.40 55.60 58.40 19.50 2016 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-21 10:00 PM Markit Services PMI Flash Jan 55.8 57.0 56.5
2021-02-02 10:00 PM Markit Services PMI Final Jan 55.6 57.0 55.8
2021-02-18 10:00 PM Markit Services PMI Flash Feb 54.1 55.6 54
2021-03-02 10:00 PM Markit Services PMI Final Feb 53.4 55.6 54.1
2021-03-23 10:00 PM Markit Services PMI Flash Mar 53.4 54
2021-04-06 11:00 PM Markit Services PMI Final Mar 53.4
2021-04-22 11:00 PM Markit Services PMI Flash Apr
2021-05-04 11:00 PM Markit Services PMI Final Apr


News Stream
Australia Markit Services PMI Slows Down
The IHS Markit Australia Services PMI decreased to 53.4 in February 2021, down from 55.6 in the previous month and compared to a preliminary estimate of 54.1, final data showed. Stringent international border restrictions reduced export orders for the thirteenth month running. That said, the decline was the softest since last July. Meanwhile, the pace of hiring accelerated to the quickest rate in the survey history. On the price front, input costs continued, as average cost burdens faced by firms in services increased for the ninth straight month. Looking ahead, business expectations for activity over the coming 12 months remained strong in February, with the level of confidence strengthening from the previous survey period to the highest since August 2018.
2021-03-02
Australia Services PMI Drops in February
The IHS Markit Australia Services PMI decreased to 54.1 in February 2021, down from 55.6 in the previous month, preliminary data showed. New orders and activity rose further. Meanwhile, backlogs of work increased for the first time in seven months and nudged employment higher. On the price front, the rate of input cost inflation accelerated to the fastest in just over three-and-a-half years, often due to higher staff costs but with increased fuel prices also mentioned. Output prices were raised at a solid pace, albeit one that was fractionally softer than in January. Looking ahead, confidence in the 12-month outlook strengthened.
2021-02-18
Australia Markit Services PMI Slows in January
Markit’s Purchasing Managers Index in services for Australia declined to 55.6 points in January from 57.0 in December, final data showed. Firms reported slower growth in both news orders and business activity, while job creation advances at the quickest pace in 20 months. On the price front, inflation intensified in January, with average cost burdens rising for the eighth month nudged by freight, fuel and wage costs. Looking ahead, optimism softened in January, but remained high.
2021-02-02
Australia Services PMI Growth Weakens
Markit’s Purchasing Managers Index in services for Australia declined to 55.8 points in January from 57.0 in December, preliminary data showed. Firms reported slower growth in both news orders and business activity. Meanwhile, employment creation remained sustained, but expansions at some establishments were partly offset by resignations, restructuring moves and layoffs at other firms. On the price front, sharp rises in operating expenses in recent months led service providers to hike fees in January, the third straight and the highest since April 2018.
2021-01-21

Australia Markit Services PMI
The IHS Markit 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.