Australia services pmi

Australia’s services pmi increased to 47.6 by 3.0% on January 2024 from 46.0 in the previous month. On a year on year basis Australia’s services pmi decreased by -2.0%. Australia’s services pmi trend is down since the current value of 47.6 is lower than the 12 month moving average of 49.36. and the 12 month moving average slope is down.Australia’s services pmi 5-year percentile is currently at 53.0%. MacroVar monitors the factors of Momentum, Trend for Australia services pmi.
A detailed analysis can be found here