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Australia Services Purchasing Managers Index (PMI)

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Australia Services Purchasing Managers Index (PMI)

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Latest Release
May 23, 2022
Actual
53.0
Previous
56.1
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
May 24, 2022 01:00   53.0   56.1
Apr 22, 2022 01:00   56.6   55.6
Apr 05, 2022 01:00 55.6 57.9 57.4
Mar 24, 2022 00:00   57.9   57.4
Mar 03, 2022 00:00 57.4 56.4 46.6
Feb 21, 2022 00:00   56.4   46.6

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Analysis

Services PMI Discussion

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