The S&P Global Flash Australia Services PMI Business Activity Index was revised higher to a six-month high of 53.6 in July 2026 from the initial estimate of 53.0 and after a final reading of 50.5 in the previous month. The latest reading marked a second consecutive month of growth, led by the real estate & business services and information & communication sectors, while transport & storage remained weak. Growth was supported by the first increase in new orders in five months, although export demand continued to decline. Employment rose for a second straight month at a solid pace, while backlogs of work increased for the first time in five months. On prices, input cost inflation eased to a five-month low despite higher fuel and wage costs, but firms raised selling prices at a faster pace to protect margins. Meanwhile, business confidence rebounded to its highest level since February, though companies remained cautious over persistent inflationary pressures and geopolitical uncertainty.