The Judo Bank Australia Composite PMI dropped to 47.1 in August 2023 from 48.3 in the previous month, a preliminary estimate showed. It was the lowest figure in 19 months, indicating a solid and accelerated reduction in private sector activity. The service sector remained the main source of private sector weakness as activities shrank at the fastest pace in 19 months. In addition, manufacturing output declined slightly. New business contracted in both the manufacturing and service sectors with the latter recording its first new order decline in five months. Tightening of financial conditions coupled with cost of living pressures limited clients’ ability to spend. This was more prominent domestically as new export business shrank only marginally. Meanwhile, staffing levels rose across the private sector despite lower new orders and output. Firms in both the manufacturing and service sectors continued to hire midway into the third quarter with hopes that business activity will improve. source: Markit Economics

Composite PMI in Australia averaged 51.94 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 Judo Bank Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Composite PMI in Australia is expected to be 47.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Judo Bank 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 Judo Bank Composite PMI



Related Last Previous Unit Reference
Composite PMI 47.10 48.20 points Aug 2023
Services Sentiment 50.30 52.10 points Jun 2023
Industrial Sentiment 48.20 48.40 points Jun 2023

Australia Judo Bank Composite PMI
The Judo Bank Australia Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, is compiled by S&P Global from responses to questionnaires sent to survey panels of manufacturers and service providers in Australia. The index tracks variables such as sales, new orders, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
47.10 48.20 58.90 21.70 2016 - 2023 points Monthly
SA

News Stream
Australian Business Activity Falls Most in 19 Months
The Judo Bank Australia Composite PMI dropped to 47.1 in August 2023 from 48.3 in the previous month, a preliminary estimate showed. It was the lowest figure in 19 months, indicating a solid and accelerated reduction in private sector activity. The service sector remained the main source of private sector weakness as activities shrank at the fastest pace in 19 months. In addition, manufacturing output declined slightly. New business contracted in both the manufacturing and service sectors with the latter recording its first new order decline in five months. Tightening of financial conditions coupled with cost of living pressures limited clients’ ability to spend. This was more prominent domestically as new export business shrank only marginally. Meanwhile, staffing levels rose across the private sector despite lower new orders and output. Firms in both the manufacturing and service sectors continued to hire midway into the third quarter with hopes that business activity will improve.
2023-08-22
Australian Private Sector Activity Shrinks in July
The Judo Bank Flash Australia Composite PMI fell to 48.3 in July 2023 from 50.1 in June, posting below the 50 no-change mark for the first time in four months amid a renewed contraction in the service sector as interest rate rises hit customer confidence and budgets. Services activity decreased for the first time in four months, while manufacturing activity remained contractionary for the fifth month. Services new business increased fractionally, while manufacturing new orders continued to fall, albeit at a softer pace. Total new business was undermined by a further reduction in new export orders, with declines seen across both monitored sectors. The rate of input cost inflation accelerated to a four-month high in July amid faster rises across both monitored sectors. Looking ahead, companies continued to forecast output growth for the coming year, but business confidence dipped to the lowest since the initial COVID-19 outbreak in April 2020.
2023-07-23
Australian Private Sector Expansion at 3-Month Low
The Judo Bank Australia Composite PMI dropped to 50.1 in June of 2023 from 51.6 the prior month, final data showed. It marked the third consecutive month of expansion in the private sector, albeit the slowest, supported by growth in services. New orders expanded for the third month and new business growth was mainly domestically driven as overall new export business declined. Employment growth remained resilient across both the manufacturing and service sectors. Overall input cost inflation remained unchanged from May with higher service cost inflation offsetting a slowdown in manufacturing input price increases.
2023-07-05