The IHS Markit Australia Composite PMI increased to 53.6 points in October 2020 from 51.1 in the previous month, a flash estimate showed. The latest reading pointed to the second consecutive expansion in private sector activity amid the further easing of coronavirus containment measures. The service sector grew at the fastest pace in three months (PMI at 53.8 vs 50.8 in September), while manufacturing output growth slowed (PMI at 54.2 vs 55.4 in September). New orders rose for the second successive month driven by domestic demand while the job shedding rate slowed to a three-month low. Meantime, export sales dropped for the ninth month running. On the price front, input cost inflation accelerated to the sharpest in nearly a year boosted by higher cost of raw material, freight fees and wages while output charges were unchanged. Looking ahead, sentiment improved to the strongest for over two years amid expectations of market conditions returning to normal. source: Markit Economics
Composite Pmi in Australia averaged 52 points from 2016 until 2020, reaching an all time high of 58.30 points in March of 2017 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 October of 2020.
Composite Pmi in Australia is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Australia to stand at 51.70 in 12 months time. In the long-term, the Australia Markit Composite PMI is projected to trend around 52.00 points in 2021 and 52.60 points in 2022, according to our econometric models.