The IHS Markit Australia Services PMI increased to 54.9 in November of 2020 from 53.7 in the previous month, a flash estimate showed. It was the highest reading in four months and the third consecutive expansion in the services sector, as the continued rise in production contributed to a renewed growth in employment. On the price front, input costs rose at the fastest pace in over two years, and, consequently, output charges increased for the first time in three months. source: Markit Economics

Services Sentiment in Australia averaged 51.78 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 Markit Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Services Sentiment in Australia is expected to be 54.70 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 54.30 in 12 months time. In the long-term, the Australia Markit Services PMI is projected to trend around 54.50 points in 2021 and 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
54.90 53.70 58.40 19.50 2016 - 2020 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-10-04 10:00 PM Markit Services PMI Final Sep 50.8 49 50.0 50.0
2020-10-22 10:00 PM Markit Services PMI Flash Oct 53.8 50.8 51
2020-11-03 10:00 PM Markit Services PMI Final Oct 53.7 50.8 53.8
2020-11-22 10:00 PM Markit Services PMI Flash Nov 54.9 53.7 53.5
2020-12-02 10:00 PM Markit Services PMI Final Nov 53.7 54.9
2020-12-15 10:00 PM Markit Services PMI Flash Dec 54.7
2021-01-05 10:00 PM CommBank Services PMI Final Dec 54.7
2021-01-23 10:00 PM CommBank Services PMI Flash Jan


News Stream
Australia Services PMI Climbs to 4-month High
The IHS Markit Australia Services PMI increased to 54.9 in November of 2020 from 53.7 in the previous month, a flash estimate showed. It was the highest reading in four months and the third consecutive expansion in the services sector, as the continued rise in production contributed to a renewed growth in employment. On the price front, input costs rose at the fastest pace in over two years, and, consequently, output charges increased for the first time in three months.
2020-11-22
Australia Markit Services PMI Revised Downwardly
The IHS Markit Australia Services PMI stood at 53.7 in October 2020, little-changed from a preliminary estimate of 53.8 and above September's final reading of 50.8. Business activity rose at a faster pace, while business intakes remained marginal. At the same time, employment declined further as part of firms' efforts to control costs and remain viable. The reduction of government wage subsidies and forced redundancies were reasons cited for the drop in staff numbers. On the price front, input costs rose at the fastest rate for nearly a year as wage costs increased. Looking ahead, business sentiment consequently improved to the highest for just over two years.
2020-11-03
Australia Services Activity Grows Further in October
The IHS Markit Australia Services PMI increased to 53.8 in October 2020 from 50.8 in the previous month, a flash estimate showed. The latest reading pointed to the second consecutive expansion in the services sector as restrictions designed to contain coronavirus contagions were relaxed further. New orders rose further amid an improvement in demand conditions, while the job shedding rate slowed. On the price front, input cost inflation quickened sharply while output charges were broadly unchanged.
2020-10-22
Australia Services Activity Back to Expansion in September
The IHS Markit Australia Services PMI was revised higher to 50.8 in September 2020 from a preliminary estimate of 50 and compared with August's 49. The latest reading pointed to an expansion in the services sector following the easing of COVID-19 restrictions in Victoria in mid-September. New order volumes returned to growth after a solid decline a month earlier. Meantime, export sales shrank for an eighth straight month, with the rate of decline still marked, and the job shedding rate accelerated to its fastest since May. At the same time, backlogs of work fell further and one that was amongst the sharpest in the survey history. On the price front, input prices rose linked to wage inflation, freight fees and fuel costs, while output charges dropped slightly as companies provided discounts to stimulate sales and boost competitiveness. Finally, confidence rose to the highest in over two years.
2020-10-05

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.