The Judo Bank Australia Composite PMI rose to 50.6 in February of 2023 from 48.5 the prior month, final estimates showed. The Australian private sector returned to expansion after four months of contraction, supported by service activity growth. Firms worked through backlogs amid a lack of new orders growth. Hiring activity continued at a solid pace while demand stagnated. Input cost inflation remained eased to a 16-month low. Overall sentiment across the private sector remained positive in February amid hopes for better sales. The level of business confidence fell to the lowest since early 2020 with firms concerned over higher interest rates and worsening economic conditions. source: Markit Economics

Composite PMI in Australia averaged 52.10 points from 2016 until 2023, reaching an all time high of 58.90 points in April of 2021 and a record low of 21.70 points in April of 2020. This page provides - Australia Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Markit Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Composite PMI in Australia is expected to be 50.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Markit Composite PMI is projected to trend around 54.00 points in 2024 and 53.60 points in 2025, according to our econometric models.

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Australia Markit Composite PMI



Related Last Previous Unit Reference
Composite PMI 50.60 48.50 points Feb 2023
Services Sentiment 50.70 48.60 points Feb 2023
Industrial Sentiment 50.50 50.00 points Feb 2023

Australia Markit Composite PMI
In Australia, the S&P Global 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. .
Actual Previous Highest Lowest Dates Unit Frequency
50.60 48.50 58.90 21.70 2016 - 2023 points Monthly
SA

News Stream
Australia Private Sector Activity Expands in February
The Judo Bank Australia Composite PMI rose to 50.6 in February of 2023 from 48.5 the prior month, final estimates showed. The Australian private sector returned to expansion after four months of contraction, supported by service activity growth. Firms worked through backlogs amid a lack of new orders growth. Hiring activity continued at a solid pace while demand stagnated. Input cost inflation remained eased to a 16-month low. Overall sentiment across the private sector remained positive in February amid hopes for better sales. The level of business confidence fell to the lowest since early 2020 with firms concerned over higher interest rates and worsening economic conditions.
2023-03-02
Australia Private Sector Activity Contraction Softens in February
The Judo Bank Australia Composite PMI increased to 49.2 in February of 2023 from 48.5 the prior month, a preliminary estimate showed. It reached the highest figure in four months but pointed to the fifth straight month of contraction in the Australian private sector activity, driven by growth in export orders as foreign demand rose. Amid a lack of demand, work outstanding fell as Australian goods producers and service providers worked through backlogged orders that led to higher labor supply while reducing backlogged work.
2023-02-20
Australian Private Sector Declines for 4th Month
The Judo Bank Australia Services PMI revised higher to 48.6 in January 2023, from preliminary estimates of 48.3, compared to 47.3 in the previous month. It marked a fourth consecutive month of contraction in services as the index remained below the 50.0 neutral level. Private sector slowdown eases mostly due to an increase in demand. Higher new orders and new business growth pushed employment levels higher across manufacturing and service sectors. Meanwhile, firms in the private sector continued to face higher costs, but the slowest rate since October 2021 and pushed the selling prices higher.
2023-02-02