The Judo Bank Australia Manufacturing PMI fell to 48.7 in March 2023, from 50.5 in the previous month, preliminary estimates showed. It pointed to the sharpest contraction since May 2020, led by falls in new orders and outputs as higher interest rates and inflationary pressures affected demands. Manufacturing output shrank for a fourth straight month driven by falls in new orders, as new orders contacted at the fasted rate since August 2021. Labor demand continued to ease while Australian businesses are still looking to expand their workforce levels in early 2023. Meantime, the overall level of business confidence declined further and was the lowest in almost three years. source: Markit Economics
Industrial Sentiment in Australia averaged 54.02 points from 2016 until 2023, reaching an all time high of 60.40 points in May of 2021 and a record low of 44.00 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 S&P Global Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.
Industrial Sentiment in Australia is expected to be 50.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia S&P Global Manufacturing PMI is projected to trend around 54.20 points in 2024 and 53.60 points in 2025, according to our econometric models.