Australia August PMI Services 49.0 & Composite 49.4

CBA/Markit PMIs, previous month and preliminary for this month can be found here:

• Australia preliminary PMIs (August): Manufacturing 53.9 (prior 54.0) & Services 48.1 (prior 58.2)

The fall back into contraction for the services PMI ... Victoria lockdown #2 cited in the 'key findings':

• Australian services business activity returned to a decline during August amid lockdown measures reimposed in Victoria following a surge in new COVID-19 infections. Demand was also adversely impacted, with new business inflows falling after two months of growth, which contributed to a development of spare capacity. Consequently, job shedding intensified. Input costs rose further, accompanied by an increase in selling prices.