A post by @FirstSquawk on X.
AUSTRALIA’S FINAL COMPOSITE PMI CAME IN AT 48.2 AND THE SERVICES PMI AT 48.5, BOTH IN CONTRACTION
@FirstSquawk on X
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Australia’s final composite PMI fell to 48.2 and the services PMI to 48.5, both below the 50 threshold that separates expansion from contraction. The readings signal a broad slowdown in Australian private-sector activity, with services joining the weaker manufacturing picture. The sub-50 prints matter because they point to softening demand and output, which could weigh on near-term growth and shape expectations for Reserve Bank of Australia policy. Watch upcoming employment, inflation and retail data, along with any revision to the PMI series, for confirmation of whether the contraction deepens.
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