Australia Services Purchasing Managers Index (PMI)

AUD
Actual
51.2
Forecast
50.6
Previous
52.5
Latest Release
Jul 03, 2024
Importance
Source
Markit
Overview
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.
Historical Data
Release Date
Time
Actual
Forecast
Previous
Jul 03, 2024 (Jun) 01:00 51.2 50.6
52.5
Jun 21, 2024 01:00 50.6 -
52.5
Jun 05, 2024 01:00 52.5 53.1
53.6
May 23, 2024 01:00 53.1 -
53.6
May 03, 2024 01:00 53.6 54.2
54.4
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