The Australian Industry Group Australian Performance of Services Index fell to 57.8 in June of 2021 from a near 3-year high of 61.2 in the previous month. The latest reading pointed to the weakest expansion in the services sector since last February, due to the impact of lockdowns in Victoria and other states, mostly observed in lower readings for new orders (56.6 from 68.3 in May), sales (66.1 from 68.6) and employment (54.2 from 56.6). On the price front, both input and output prices moderated from the previous month, while wage growth accelerated in June. Business activity continued to advance in all service sub-sectors, with the steepest expansion seen in business & property (62.1 from 59.6), as government stimulus supported demand for services that supply or support residential construction. Improvements were also seen in health & education (58.3 from 56.8) and logistics services (66.2 from 65.1), while activity in retail trade & hospitality eased (57.7 from 58.1). source: Australian Industry Group
Services PMI in Australia averaged 49.99 points from 2003 until 2021, reaching an all time high of 63 points in June of 2018 and a record low of 27.10 points in April of 2020. 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. Australia Performance Services Index - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.
Services PMI in Australia is expected to be 58.00 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 52.00 in 12 months time. In the long-term, the Australia Performance Services Index is projected to trend around 51.00 points in 2022 and 53.00 points in 2023, according to our econometric models.