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Australia Composite PMI

Last Release
Mar 31, 2024
Actual
53.3
Units In
Points
Previous
52.1
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
51.77 Points2016-2024Markit 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 increased to 53.3 in March 2024 from 52.1 in the previous month, according to final readings. Australia's private sector output growth accelerated sharply at the end of the first quarter, reaching the fastest pace in almost two years. This was mainly driven by strong growth in the services sector, although manufacturing continued to shrink. The increase in output was supported by a modest rise in new orders, but employment growth slowed, with services seeing fewer job additions and manufacturing shedding jobs faster. Prices rose at a slower rate in both sectors, leading to lower overall inflation. Despite these challenges, overall optimism was at a seven-month high, driven by increased confidence in the services sector.

Australia Composite PMI History

Last 12 readings

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