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.