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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
AustraliaAustralia S&P Global Services PMI fell to 48.7 in May 2026
FMPMonthlyReleased June 2026
Australia S&P Global Services PMI fell to 48.7 in May 2026, released June 2026, down 2 from April's 50.7 reading. The reading matched the 47.7 consensus.
Latest Release
48.700000
Actual
47.700000
Consensus
50.700000
Previous
Median Absolute Error
±0.37
across last 12 releases
Last Call
Jun 2026
Predicted: 46.05
Actual: 48.7
Error: -2.65
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| AUD/NZD | ▲ Direct | +0.67 | FOREX | Bullish AUD | → View |
| AUD/JPY | ▲ Direct | +0.40 | FOREX | Bullish AUD | → View |
| S&P/ASX 200 | ▼ Inverse | −0.29 | INDEX | Bearish S&P | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Services PMI (Australia) was reported at 48.70 in May 2026. This beat the market consensus of 47.70 by 1.00. The reading fell from the previous value of 50.70. Over the past 12 months, the indicator has averaged 51.89, ranging from 46.60 to 56.30 across 16 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 47.80, down from the prior three at 50.53. Volatility over the past year (σ 2.92) is higher than the prior year (σ 0.40). In June readings over the past 3 years, S&P Global Services PMI has averaged 50.20.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with AUD/NZD (Bullish AUD). A secondary relationship exists with AUD/JPY, positively correlated (Bullish AUD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.37.
WHAT TO WATCH NEXT
The next release is scheduled for June 22, 2026. Same-country events in the next 14 days include Employment Change (Jun 18) and Full Time Employment Chg (Jun 18).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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S&P Global Services PMI - AU
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About S&P Global Services PMI — Australia
DEFINITION
The S&P Global Services PMI is a widely recognized financial indicator that measures the performance of the global services sector. It provides valuable insights into the health and growth of the services industry, which accounts for a significant portion of the global economy. This indicator is based on a monthly survey of purchasing managers in key service sectors, providing timely and reliable data on business activity, new orders, employment, and prices. The S&P Global Services PMI is a crucial tool for investors, businesses, and policymakers in making informed decisions and assessing the overall economic outlook.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 48.7, consensus 47.7. Prior reading (May 2026): 47.7. Before that (Apr 2026): 50.7.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with AUD/NZD (Bullish AUD, r=0.67) — a useful reference for forex-focused traders.