Breaking News

Australia Services Purchasing Managers Index (PMI)

Latest Release

Oct 03, 2023

Actual

51.8

Forecast

50.5

47.8

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

Release Date	Time	Actual	Forecast	Previous
Oct 03, 2023	23:00	51.8	50.5	47.8
Sep 22, 2023	00:00	50.5		47.8
Sep 05, 2023	00:00	47.8	46.7	47.9
Aug 23, 2023	00:00	46.7	47.9	47.9
Aug 03, 2023	00:00	47.9	48.0	50.3
Jul 24, 2023	00:00	48.0		50.3

News

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Asia FX weakens, dollar firms as focus remains on debt ceiling talks By Investing.com - May 23, 2023

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Analysis

Newsquawk Week Ahead: Highlights include RBA, BoC, US Services PMI and China Trade By Ryan Anderson - Sep 01, 2023

Week Ahead 4th-8th September MON: US & Canadian Labour Day; German Trade (Jul), Swiss GDP (Q2), EZ Sentix (Sep) TUE: RBA Policy Announcement; Final Composite & Services PMIs (Aug), EZ Producer...

Currencies Snap Back On +1,200 Point Dow Turnaround By Kathy Lien - Jan 24, 2022

We have not seen this type of volatility in the financial markets since the beginning of the pandemic. The Dow Jones Industrial Average was down -1,115 points in the first half of the NY session but...

Week Ahead Preview: highlights include FOMC, NFP, BoE, RBA, Norges Bank, OPEC+ By Ryan Anderson - Oct 29, 2021

SUN: Japanese Lower House Election, G20 Summit, COP26. MON: CBR MPR; Chinese Caixin Manufacturing PMI Final (Oct), German Retail Sales (Sep), UK, US & Canadian Manufacturing PMI Final (Oct), US ISM...

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