Breaking News

Australia Services Purchasing Managers Index (PMI)

Latest Release

May 22, 2023

Actual

51.8

Forecast

48.9

53.7

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

Release Date	Time	Actual	Forecast	Previous
Jun 05, 2023	07:00		51.8	53.7
May 23, 2023	07:00	51.8	48.9	53.7
May 03, 2023	07:00	53.7	52.6	48.6
Apr 21, 2023	07:00	52.6	47.0	48.6
Apr 05, 2023	07:00	48.6	48.2	50.7
Mar 24, 2023	06:00	48.2		50.7

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