The Judo Bank Flash Australia Services PMI Business Activity Index rose to 53.5 in March from 53.1 in February, indicating a second consecutive expansion and the fastest pace since last April. This growth was driven by sustained new business growth, supported by increased queries and improving demand conditions. Employment growth was also maintained at the end of the first quarter. Despite this, both input costs and output prices rose at softer rates, although they remained above their respective averages. Overall sentiment improved, with business confidence reaching its highest level in seven months, driven by expectations of better sales in the coming year. source: S&P Global

Services PMI in Australia increased to 53.50 points in March from 53.10 points in February of 2024. Services PMI in Australia averaged 51.63 points from 2016 until 2024, 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 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 Judo Bank Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on March of 2024.

Services PMI in Australia increased to 53.50 points in March from 53.10 points in February of 2024. Services PMI 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. In the long-term, the Australia Judo Bank Services PMI is projected to trend around 53.40 points in 2025 and 52.60 points in 2026, according to our econometric models.



Related Last Previous Unit Reference
Bankruptcies 515.00 555.00 Companies Feb 2024
Building Capital Expenditure 1.50 0.10 percent Dec 2023
NAB Business Confidence 0.00 1.00 points Feb 2024
Business Inventories -1.70 1.20 percent Dec 2023
Capacity Utilization 83.40 83.69 percent Feb 2024
Car Registrations 16245.00 18470.00 Units Dec 2023
Changes in Inventories -2709.00 -640.00 AUD Million Dec 2023
Composite Leading Indicator 99.11 99.00 points Feb 2024
Judo Bank Composite PMI Flash 52.40 52.10 points Mar 2024
Company Gross Profits 140963.00 131285.00 AUD Million Dec 2023
Corruption Index 75.00 75.00 Points Dec 2023
Corruption Rank 14.00 13.00 Dec 2023
Industrial Production 0.00 1.80 percent Sep 2023
Industrial Production Mom -1.00 0.50 percent Sep 2023
Ai Group Industry Index -14.90 -27.30 points Feb 2024
Ai Group Services Index -22.40 -23.60 points Nov 2023
Ai Group Construction Index -18.40 -11.50 points Feb 2024
Ai Group Manufacturing Index -12.60 -23.80 points Feb 2024
Westpac Leading Index MoM 0.10 -0.10 percent Feb 2024
Judo Bank Manufacturing PMI Flash 46.80 47.80 points Mar 2024
Manufacturing Production 0.00 -0.30 percent Sep 2023
Mining Production 0.20 1.20 percent Sep 2023
New Orders 9.00 13.00 points Dec 2023
Plant Machinery Capital Expenditure -0.10 0.60 percent Dec 2023
Private Capital Expenditure 0.80 0.30 percent Dec 2023
Judo Bank Services PMI Flash 53.50 53.10 points Mar 2024
Small Business Sentiment -9.43 -4.09 points Dec 2023
New Motor Vehicle Sales YoY 105023.00 89782.00 Units Feb 2024

Australia Judo Bank Services PMI
The Judo Bank Australia Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
53.50 53.10 58.80 19.50 2016 - 2024 points Monthly
SA

News Stream
Australia Services PMI Advances to 11-month high
The Judo Bank Flash Australia Services PMI Business Activity Index rose to 53.5 in March from 53.1 in February, indicating a second consecutive expansion and the fastest pace since last April. This growth was driven by sustained new business growth, supported by increased queries and improving demand conditions. Employment growth was also maintained at the end of the first quarter. Despite this, both input costs and output prices rose at softer rates, although they remained above their respective averages. Overall sentiment improved, with business confidence reaching its highest level in seven months, driven by expectations of better sales in the coming year.
2024-03-20
Australia Services PMI Climbs to 10-month high
The Judo Bank Flash Australia Services PMI Business Activity Index rose to 53.1 in February, from 49.1 in the prior month, final readings showed. It marked the first expansion in services activity in five months and the quickest since April 2023, as a renewed rise in new orders led to business activity returning to growth. Improvement in demand conditions rose services activity, suggesting better economic conditions and increased enquiries supported the latest rise in new work. New export business also returned to growth for the first time since September 2023, supported by new client wins and increased interest from clients in Asia. As such, service providers hired more staff at an accelerated pace to cope with new workloads and enabled firms to clear their outstanding business for a twentieth straight month. On the price front, input costs continued to increase, attributed to rising shipping, fuel and labour costs.
2024-03-04
Australia Services PMI Rises to 10-month high
The Judo Bank Flash Australia Services PMI Business Activity Index posted 52.8 in February, up from 49.1 in January. It marked the first expansion in services activity in five months and the quickest since April 2023. The return to growth was driven by a renewed rise in incoming new business, with export business also increasing marginally for the first time since September 2023. As a result, Australian service providers hired additional staff to manage increased workloads. However, higher cost inflation was observed, with input price inflation rising in February due to increased labor and input material costs. Consequently, selling prices also rose at a faster rate. Despite the uptick in activity, optimism slightly declined as some firms expressed concerns about still-elevated interest rates affecting future activity in the next 12 months.
2024-02-21