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.