The S&P Global Australia Services PMI fell to 50.9 in July 2022 from a final reading of 52.6 in June, marking a sixth consecutive month of expansion in the Australian service sector, although at the slowest rate of growth in the current sequence. Both activity and new business grew at the softest rates in six months amid reports of interest rate hikes and inflationary pressures dampening overall demand conditions. Similarly, new export business growth eased to the slowest in five months. Workforce expansion continued into July despite continued mentions of staff shortages by some firms. Meanwhile, Australian service sector firms noted a rise in spare capacity, as indicated by a renewed decline in the level of outstanding work. Turning to prices, severe inflationary pressures remained as the rate of increase in prices charged surged to a survey peak. Overall business sentiment dipped to a 27-month low. source: Markit Economics

Services Sentiment in Australia averaged 52.16 points from 2016 until 2022, 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 August of 2022.

Services Sentiment in Australia is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Markit Services PMI is projected to trend around 53.50 points in 2023, according to our econometric models.

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Australia Markit Services PMI



Related Last Previous Unit Reference
Composite PMI 51.10 52.60 points Jul 2022
Industrial Sentiment 55.70 56.20 points Jul 2022
Services Sentiment 50.90 52.60 points Jul 2022

Australia Markit Services PMI
The S&P Global 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.
Actual Previous Highest Lowest Dates Unit Frequency
50.90 52.60 58.80 19.50 2016 - 2022 points Monthly
SA

News Stream
Australia Services PMI Slows to 6-Month Low
The S&P Global Australia Services PMI fell to 50.9 in July 2022 from a final reading of 52.6 in June, marking a sixth consecutive month of expansion in the Australian service sector, although at the slowest rate of growth in the current sequence. Both activity and new business grew at the softest rates in six months amid reports of interest rate hikes and inflationary pressures dampening overall demand conditions. Similarly, new export business growth eased to the slowest in five months. Workforce expansion continued into July despite continued mentions of staff shortages by some firms. Meanwhile, Australian service sector firms noted a rise in spare capacity, as indicated by a renewed decline in the level of outstanding work. Turning to prices, severe inflationary pressures remained as the rate of increase in prices charged surged to a survey peak. Overall business sentiment dipped to a 27-month low.
2022-08-02
Australia Services PMI Eases to 6-Month Low
The S&P Global Australia Flash Services PMI fell to 50.4 in July 2022 from a final reading of 52.6 in June, marking a sixth consecutive month of expansion in the Australian service sector, although at the slowest rate of growth in the current sequence. The upturns in business activity and new business weakened further in July. Anecdotal evidence suggested that recent interest rate hikes, inflationary pressures and staff shortages contributed to sluggish sector expansion. On the positive side, improving international travel volumes and new projects supported an overall improvement in the service sector. Solid growth in employment levels was also recorded in July, albeit at the slowest pace in six months. Severe inflationary pressures continued into July, according to latest survey data. The rate of input cost inflation remained historically elevated but more notably, selling price inflation hit a fresh record high.
2022-07-22
Australia Services PMI Eases to 5-Month Low
The S&P Global Australia Services PMI fell to 52.6 in June 2022 from a final reading of 53.2 in May, marking a fifth consecutive month of expansion in the Australian service sector, although at the slowest rate of growth in the current sequence. The expansion of Australia's service sector slowed in June, with both activity and new business rising at the softest rate for five months. While growth was supported by the reopening of Australia’s borders and the relaxation of COVID-19 restrictions, there was evidence that tighter financial conditions and rising costs had dampened the sector’s performance in June. Notably, business sentiment dipped to a 26-month low. Despite this, companies continued to expand their staffing levels, as firms looked to boost capacity as the economy recovers from the pandemic. Meanwhile, inflationary pressures remained marked, as increases in both input prices and output charges were among the highest on record.
2022-07-04