The IHS Markit Manufacturing PMI in Australia rose to 55.8 in November of 2020 from 54.2 in October, a final estimate showed. The latest reading pointed to the fifth straight month of expansion and also the highest for nearly three years. The headline was mainly nudged by new orders, which expanded at the swiftest rate since January 2019, while the rate of job creation was the fastest since early 2018. On the price front, inflationary pressures intensified amid firmer freight fees and higher raw material costs. Looking ahead, expectations about output over the coming year remained positive, with confidence based on planned capacity on the rise. source: Markit Economics
Industrial Sentiment in Australia averaged 53.26 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 Markit Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Industrial Sentiment in Australia is expected to be 55.70 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 55.10 in 12 months time. In the long-term, the Australia Markit Manufacturing PMI is projected to trend around 55.30 points in 2021 and 54.50 points in 2022, according to our econometric models.