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Australia Services Purchasing Managers Index (PMI)

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Australia Services Purchasing Managers Index (PMI)

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Status

 
Latest Release
Jul 22, 2021
Actual
44.2
Previous
56.8
The Australian Services Purchasing Managers Index (PMI) measures the activity level of purchasing managers in the services sector. The report is based on surveys of over 300 business executives in private sector services companies. Each response is weighted according to the size of the company and its contribution to total manufacturing or services output accounted for by the sub-sector to which that company belongs. Replies from larger companies have a greater impact on the final index numbers than those from small companies. Results are presented by question asked, showing the percentage of respondents reporting an improvement, deterioration or no change since the previous month.From these percentages, an index is derived: a level of 50.0 signals no change since the previous month, above 50.0 signals an increase (or improvement), below 50.0 a decrease (or contraction). Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. A higher than expected reading should be taken as positive/bullish for the AUD , while a lower than expected reading should be taken as negative/bearish for the AUD.
Importance:
Country:
Currency: AUD
Source: Markit
Australia Services Purchasing Managers Index (PMI)
 
Release Date Time Actual Forecast Previous
Jul 22, 2021 19:00   44.2   56.8
Jul 04, 2021 19:00 56.8 56.0 58.0
Jun 22, 2021 19:00   56.0   58.0
Jun 02, 2021 19:00 58.0   58.8
May 20, 2021 19:00   58.2   58.8
May 04, 2021 19:00 58.8 58.6 55.5

News

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Analysis

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Monday’s “Delta-dip” receded further into the rear-view mirror overnight, as US stocks edged higher and US yields fell after the US 10-Year TIPS auction went at a record low yield....

Services PMI Discussion

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