FX.co ★ Australia’s Services Activity Slips Further in March as PMI Edges Down to 46.3

Australia’s services sector remained in contractionary territory in March, with the S&P Global Services Purchasing Managers’ Index (PMI) easing to 46.3, down from 46.6 previously. Both readings, recorded for March 2026, signal a continued slowdown in services activity, as any PMI figure below 50 indicates a contraction.

The marginal decline suggests that pressures weighing on Australia’s services economy have persisted into March, with no clear sign yet of a return to expansion. While the drop from 46.6 to 46.3 is modest, it underscores ongoing weakness in business conditions across key service industries.

The latest data were updated on 6 April 2026, providing a timely snapshot of the sector’s performance as markets and policymakers assess the resilience of Australia’s broader economy amid a subdued services backdrop.