The Commonwealth Bank Services PMI in Australia was revised slightly lower to 58.2 in July from a preliminary estimate of 58.5 and compared to June's 53.1 Still, the reading pointed to a further monthly rise in activity and its highest since April of 2017. The rise in business activity was accompanied by a further strengthening in demand as order book volumes rose at the strongest pace in three years. In addition, the rate of job shedding was the slowest in the current sequence of decline and marginal overall. On the price front, input costs continued to rise while output prices dropped in July. Finally, business expectations for the year-ahead outlook remained positive.

Services Sentiment in Australia averaged 51.76 points from 2016 until 2020, 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 Commonwealth Bank Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Markit Economics

Services Sentiment in Australia is expected to be 53.50 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 53.50 in 12 months time. In the long-term, the Australia Commonwealth Bank Services PMI is projected to trend around 53.70 points in 2021 and 53.50 points in 2022, according to our econometric models.

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Australia Commonwealth Bank Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
58.20 53.10 58.40 19.50 2016 - 2020 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-22 11:00 PM CommBank Services PMI Flash Jun 53.2 26.9 27.7
2020-07-02 11:00 PM CommBank Services PMI Final Jun 53.1 26.9 53.2 53.2
2020-07-23 11:00 PM CommBank Services PMI Flash Jul 58.5 53.1 53.2 53.5
2020-08-04 11:00 PM CommBank Services PMI Final Jul 58.2 53.1 58.5 58.5
2020-08-20 11:00 PM CommBank Services PMI Flash Aug 58.2
2020-09-02 11:00 PM CommBank Services PMI Final Aug 58.2
2020-09-22 11:00 PM CommBank Services PMI Flash Sep 53.5
2020-10-04 10:00 PM CommBank Services PMI Final Sep 53.5


News Stream
Australia Services PMI Revised Slightly Lower
The Commonwealth Bank Services PMI in Australia was revised slightly lower to 58.2 in July from a preliminary estimate of 58.5 and compared to June's 53.1 Still, the reading pointed to a further monthly rise in activity and its highest since April of 2017. The rise in business activity was accompanied by a further strengthening in demand as order book volumes rose at the strongest pace in three years. In addition, the rate of job shedding was the slowest in the current sequence of decline and marginal overall. On the price front, input costs continued to rise while output prices dropped in July. Finally, business expectations for the year-ahead outlook remained positive.
2020-08-04
Australia Services Activity Expands at Record Pace
The Commonwealth Bank Services PMI in Australia rose to 58.5 in July 2020 from 53.1 in the previous month and beating market expectations of 53.2, a preliminary estimate showed. The latest reading pointed to the sharpest expansion in services activities on record, amid the easing of coronavirus lockdown restrictions. New orders growth accelerated, while employment continued to decline. On the price front, input cost inflation was relatively modest while output charges fell amid competition for new work.
2020-07-24
Australia Services PMI Revised Slightly Lower
The Commonwealth Bank Services PMI in Australia was revised slightly lower to 53.1 in June from a preliminary estimate of 53.2 and compared to May's 26.9. Still, the reading pointed to the first expansion in the services sector in five months and the sharpest since November 2018, amid the easing of coronavirus restrictions. New orders returned to growth for the first time since January mainly due to a recovery in sectors such as transportation and tourism while export sales continued to fall albeit at a softer pace. Additionally, the job shedding rate slowed to its weakest in the current five-month sequence. On the price front, both input costs and output prices increased for the first time in three months. Looking ahead, confidence rose to the highest in nine months, built on expectations of a further easing of restrictions, including for international travel.
2020-07-02
Australia Services Sector Returns to Expansion in June
The Commonwealth Bank Services PMI in Australia increased to 53.2 in June 2020 from 26.9 in the previous month, preliminary data showed. The reading pointed to the first expansion in the services sector in five months and the sharpest since November 2018, as the easing of coronavirus restrictions led operations to resume. New orders increased, albeit marginally amid the ongoing impact of the pandemic. The job shedding rate slowed to its weakest in the current five-month sequence. On the price front, both input costs and output prices increased for the first time in three months.
2020-06-22

Australia Commonwealth Bank Services PMI
The Commonwealth Bank 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.