Australia Composite PMI

Last Release

Jul 31, 2024

Actual

50.2

Units In

Points

50.7

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
58.9 Apr 2021	21.7 Apr 2020	51.76 Points	2016-2024	Markit Economics

In Australia, the IHS Markit Australia Composite PMI Output Index is a GDP-weighted average of the Commonwealth Bank Manufacturing Output Index and the Commonwealth Bank Services Business Activity Index. It tracks changes in business activity in the Australian private sector economy as a whole. A reading above 50 indicates expansion in business activity while below 50 points to contraction. .

Latest Updates

The Judo Bank Australia Composite Output Index revealed that expansion slowed to 50.2 in June from 50.7 in May. This marks the slowest growth in the current six-month expansion period, driven by a weaker rise in services activity and a sharper decline in manufacturing production. Persistent demand weakness led to a second consecutive monthly decrease in total new business and the fastest fall in new export orders in nearly four years. Although companies continued hiring, the rate was the slowest in almost three years, significantly reducing work backlogs. Input cost inflation hit a 16-month high due to rising service input prices and increased minimum wage pressures. Business confidence fell to its lowest level since the survey began, excluding the initial COVID-19 wave in March 2020.