Australia AUD

Australia Judo Bank Services PMI Final

Impact:
Medium
Source: S&P Global

Latest Release:

Date:
Big Surprise:
0.9
| AUD
Actual:
50.5
Forecast: 49.6
Previous/Revision:
51
Period: Nov
What Does It Measure?
The Judo Bank Services PMI Final measures the performance of the services sector in Australia, focusing on activity levels, employment, and business conditions within the service industries such as hospitality, finance, and retail. This index assesses key aspects of service-driven output, with values above 50 indicating expansion and values below 50 indicating contraction, serving as a national indicator of economic health in the services sector.
Frequency
The Judo Bank Services PMI Final is released monthly, typically on the first business day of the month, providing the final figure based on collected data from the previous month.
Why Do Traders Care?
Traders closely monitor the Services PMI as it provides timely insights into economic trends and influences key assets like the Australian Dollar (AUD), equities, and bonds. A higher-than-expected PMI reading can signal economic growth, leading to bullish sentiment for the AUD and stock markets, while weaker results may forecast slowing economic activity and negatively affect these assets.
What Is It Derived From?
The Services PMI is derived from a survey of purchasing managers within the Australian services sector, capturing their insights on business activity, new orders, employment, and supplier deliveries. The survey employs a diffusion index methodology, where responses are weighted to produce an overall index value reflecting the prevailing business conditions.
Description
The Judo Bank Services PMI Final is a crucial economic indicator that reflects the health of the services sector by summarizing data on employment levels, new orders, and business conditions collected through a survey of purchasing managers. The index serves as a coincident economic measure, allowing analysts and policymakers to gauge current economic activity and inform future decision-making.
Additional Notes
As a coincident indicator, the Services PMI often correlates with broader economic trends in Australia, such as GDP growth and consumer sentiment. Comparing it to other related indicators, such as the Manufacturing PMI or retail sales figures, can provide a more holistic view of the economic landscape.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for AUD, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Dec 03, 2024
50.5
 49.6
51
0.9
Nov 04, 2024
51
 50.6
50.5
 0.4
Oct 02, 2024
50.5
 50.6
52.5
 -0.1
Sep 03, 2024
52.5
 52.2
50.4
 0.3
Aug 04, 2024
50.4
 50.8
51.2
 -0.4
Jul 02, 2024
51.2
 50.6
52.5
 0.6
Jun 04, 2024
52.5
 53.1
53.6
 -0.6
May 02, 2024
53.6
 54.2
54.4
 -0.6
Apr 03, 2024
54.4
 53.5
53.1
 0.9
Mar 04, 2024
53.1
 52.8
49.1
 0.3
Feb 04, 2024
49.1
 47.9
47.1
1.2
Jan 03, 2024
47.1
 47.6
46
 -0.5
Dec 04, 2023
46
 46.3
47.9
 -0.3
Nov 02, 2023
47.9
 47.6
51.8
 0.3
Oct 03, 2023
51.8
 50.5
47.8
1.3
Sep 04, 2023
47.8
 46.7
47.9
1.1
Aug 02, 2023
47.9
 48
50.3
 -0.1