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Australia’s service sector hits 26-month low as PMI plunges into contraction amid inflation spike

Apr 07, 2026 04:58 UTC

Australia’s service sector hits 26-month low as PMI plunges into contraction amid inflation spike.

  • TheS&P Global Australia Services PMI Business Activity Indexfell to 46
  • 3 in March 2026, larger than initial estimates of a 46
  • 6 contraction, down from 52

TheS&P Global Australia Services PMI Business Activity Indexfell to 46.3 in March 2026, larger than initial estimates of a 46.6 contraction, down from 52.8 in February, marking the first contraction in 26 months and the sharpest decline since November 2023.

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