FX.co ★ Australia Services Growth Revised Upward

The S&P Global Australia Services PMI Business Activity Index rose to 53.2 in August 2026, above the preliminary estimate of 52.9 but slightly below July’s six‑month high of 53.6. The latest reading signalled a third consecutive month of expansion, underpinned by a second successive monthly rise in new orders, though overall growth remained modest and broadly comparable to July.

In contrast, new business from abroad declined for a fourth straight month, pressured by higher fuel costs and weaker tourist inflows. Employment increased for the third month in a row, but the pace of job growth slowed relative to July.

On the price front, input cost inflation stayed elevated, with the rate of increase edging higher from the previous month, although it remained well below April’s recent peak. Firms continued to raise output charges at a solid rate, albeit more slowly than in July.

Business confidence strengthened further, with sentiment reaching a six‑month high and nearly returning to levels seen before the outbreak of war in the Middle East.