The Commonwealth Bank Manufacturing PMI for Australia rose to 49.8 in February 2020 from 49.6 in January but slightly below market expectations of 48.9, a preliminary estimate showed. The reading pointed to the fourth straight month of contraction in factory activity and the slowest in three months, as output fell for the sixth month in a row, though the rate of contraction was softer thank in January. Meantime, new orders declined markedly, driven in part by a renewed fall in new export work; and employment fell sharply. Delivery times rose at the steepest pace on record, mainly due to bushfires and the coronavirus outbreak.
Industrial Sentiment in Australia averaged 53.65 points from 2016 until 2020, reaching an all time high of 57.20 points in December of 2016 and a record low of 49.20 points in December of 2019. This page provides - Australia Commonwealth Bank Manufacturing PMI- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Markit Economics
Industrial Sentiment in Australia is expected to be 50.10 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 52.00 in 12 months time. In the long-term, the Australia Commonwealth Bank Manufacturing PMI is projected to trend around 53.50 points in 2021, according to our econometric models.