The IHS Markit Australia Services PMI increased to a record 58.8 in April of 2021 from 55.5 in the previous month, and above a preliminary estimate of 58.6, a final reading showed. The easing of lockdown restrictions improved consumer confidence and demand, while the Australia-New Zealand travel bubble boosted a renewed rise in new exports sales. Also, the pace of job creation was firm and matched February’s record peak. On the price front, both input and output prices rose faster. Finally, business sentiment over the year-ahead outlook remained positive, with firms optimistic that a further recovery from the COVID-19 pandemic to continue supporting an uptick in client demand. source: Markit Economics
Services Sentiment in Australia averaged 52.16 points from 2016 until 2021, reaching an all time high of 58.80 points in April of 2021 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 May of 2021.
Services Sentiment in Australia is expected to be 59.00 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 52.00 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.