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.