The Commonwealth Bank Composite PMI for Australia was revised higher to 28.1 in May 2020 from a preliminary of 26.4 and above April's record low of 21.7, pointing to the second sharpest contraction in private sector activity since series began. Both manufacturing output (PMI at 44 vs 44.1 in April) and services activities (PMI at 26.9 vs 25.5 in April) continued to shrink amid the coronavirus crisis.

Composite Pmi in Australia averaged 51.91 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 Commonwealth Bank Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Markit Economics

Composite Pmi in Australia is expected to be 28.00 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 47.00 in 12 months time. In the long-term, the Australia Commonwealth Bank Composite PMI is projected to trend around 50.50 points in 2021 and 52.00 points in 2022, according to our econometric models.

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Australia Commonwealth Bank Composite PMI

Actual Previous Highest Lowest Dates Unit Frequency
28.10 21.70 58.30 21.70 2016 - 2020 points Monthly
SA


News Stream
Australia Composite PMI Stays in Deep Contraction
The Commonwealth Bank Composite PMI for Australia came at 26.4 in May 2020, contracting at a slower rate compared to a reading of 21.7 in April, preliminary data showed. The latest reading pointed to the second steepest contraction in the private sector, amid tentatives of easing coronavirus lockdown restrictions. Services activities shrank at a softer pace (PMI at 25.5 vs 19.5 in April) while factory output dropped to an-all time low (PMI at 42.8 vs 44.1 in April). New orders continued to fall substantially and the firms reduced their staffing levels for a fourth successive month. Finally, confidence rose sharply to the highest in eight months, as firms expect output to increase over the coming year as restrictions are lifted and conditions gradually return to normal.
2020-05-20
Australia Composite PMI Revised Lower
The Commonwealth Bank Composite PMI for Australia was revised down to 21.7 in April 2020 from a preliminary 22.4 and compared to March's 39.4. The latest reading pointed to the steepest contraction in the private sector since series began amid the coronavirus pandemic, as both the services sector (PMI at 19.5 vs 38.5 in March) and factory activity (PMI at 45.6 vs 49.7 in March) shrank at the fastest pace on record.
2020-05-04
Australia Private Sector Activity Contracts at Record Pace
The Commonwealth Bank Composite PMI for Australia plunged to 22.4 in April 2020 from 39.4 in the previous month, preliminary data showed. The latest reading pointed to the sharpest contraction in the private sector since series began amid the coronavirus pandemic, as both the services sector (PMI at 19.6 vs 38.5 in March) and factory activity (PMI at 45.6 vs 49.7 in March) shrank at the fastest pace on record. New orders dropped sharply due to both domestic and foreign demand; and the job shedding rate accelerated to an all-time high mostly due to business closures and lockdown. On the price front, input and output prices declined. Looking ahead, confidence was the second-lowest in the series history, amid a drop in sentiment in the manufacturing sector.
2020-04-22
Australia Composite PMI Revised Lower
The Commonwealth Bank Composite PMI for Australia was revised down to 39.4 in March 2020 from a preliminary 40.7 and compared to 49 in the previous month, final data showed. The latest reading pointed to the sharpest contraction in the private sector since series began amid the coronavirus pandemic, as the services sector shrank at the fastest pace on record (PMI at 38.5 vs 49 in February) and manufacturing output growth slowed (PMI at 50.1 vs 50.2 in February). New orders dropped, employment fell for the third time in the past four months and backlogs of work decreased markedly. Lastly, sentiment deteriorated to its lowest on record amid the coronavirus outbreak.
2020-04-02

Australia Commonwealth Bank Composite PMI
In Australia, the Commonwealth Bank of 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. .