The Commonwealth Bank Manufacturing PMI in Australia rose to 51.2 in June 2020 from a preliminary estimate of 49.8 and May's all-time low of 44. The latest reading pointed to the steepest expansion in factory activity since July last year, amid a further loosening of coronavirus lockdown restrictions, benefiting particularly consumer goods producers. The downturn in sales eased considerably in June, with new orders falling only marginally following unprecedented rates of decline in the previous two months. Meanwhile, the job shedding continued as firms operated below capacity. On the price front, input costs re-accelerated to the highest clip in two years, with firms only able to partially pass on these higher cost to clients. Finally, sentiment improved to a 16-month high.
Industrial Sentiment in Australia averaged 53.12 points from 2016 until 2020, reaching an all time high of 57.20 points in December of 2016 and a record low of 44 points in May of 2020. This page provides - Australia Commonwealth Bank Manufacturing PMI- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Commonwealth Bank Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Markit Economics
Industrial Sentiment in Australia is expected to be 51.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Sentiment in Australia to stand at 52.50 in 12 months time. In the long-term, the Australia Commonwealth Bank Manufacturing PMI is projected to trend around 52.70 points in 2021 and 53.50 points in 2022, according to our econometric models.