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.