The Judo Bank Australia Services PMI revised higher to 48.6 in January 2023, from preliminary estimates of 48.3, compared to 47.3 in the previous month. It marked a fourth consecutive month of contraction in services as the index remained below the 50.0 neutral level. Private sector slowdown eases mostly due to an increase in demand. Higher new orders and new business growth pushed employment levels higher across manufacturing and service sectors. Meanwhile, firms in the private sector continued to face higher costs, but the slowest rate since October 2021 and pushed the selling prices higher. source: Markit Economics

Composite PMI in Australia averaged 52.12 points from 2016 until 2023, reaching an all time high of 58.90 points in April of 2021 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 Markit Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

Composite PMI in Australia is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Markit Composite PMI is projected to trend around 54.00 points in 2024 and 53.60 points in 2025, according to our econometric models.

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Australia Markit Composite PMI



Related Last Previous Unit Reference
Composite PMI 48.50 47.50 points Jan 2023
Services Sentiment 48.60 47.30 points Jan 2023
Industrial Sentiment 50.00 50.20 points Jan 2023

Australia Markit Composite PMI
In Australia, the S&P Global 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. .
Actual Previous Highest Lowest Dates Unit Frequency
48.50 47.50 58.90 21.70 2016 - 2023 points Monthly
SA

News Stream
Australian Private Sector Declines for 4th Month
The Judo Bank Australia Services PMI revised higher to 48.6 in January 2023, from preliminary estimates of 48.3, compared to 47.3 in the previous month. It marked a fourth consecutive month of contraction in services as the index remained below the 50.0 neutral level. Private sector slowdown eases mostly due to an increase in demand. Higher new orders and new business growth pushed employment levels higher across manufacturing and service sectors. Meanwhile, firms in the private sector continued to face higher costs, but the slowest rate since October 2021 and pushed the selling prices higher.
2023-02-02
Australia Private Sector Activity Contracts Less in January
The Judo Bank Australia Composite PMI increased to 48.2 in January of 2023 from 47.5 the prior month, a preliminary estimate showed. It pointed to the fourth straight month of decline in the activity of the Australian private sector, but the slowest level of contraction in the last 3 months, led by growth in new orders. Improvements were seen in business activity for the services sector (48.3 vs 47.3 in December) while manufacturing activities fell (49.2 vs 50.2) signaling the first contraction of the manufacturing sector in 32 months. Lower output was recorded for both service activity and manufacturing production. Meantime, Input costs rose led by higher prices of raw materials, energy, and staff. Also, output prices edged higher as firms shared their increased cost burdens with clients.
2023-01-23
Australia Composite PMI Points to 3rd Contraction
The Judo Bank Australia Composite PMI was revised slightly higher to 47.5 in December of 2022 from a preliminary reading of 47.3, compared to 48 from the prior month. It pointed to the third straight month of decline in activity of the Australian private sector, led by a further decline in business activity for the services sector (47.3 vs 46.9 in November) and a near stall for manufacturers (50.2 vs 51.3), amid the first decrease in manufacturing output over the past 11 months. A weaker economic environment with a higher interest rate accounted for the contraction in the last month of the year. Meantime, the workforce continued to increase, although at its slowest pace in 16 months. Also, input inflation decreased to a ten-month low, although it remained high at historical standards. Still, firms grew less optimistic about the year ahead.
2023-01-04