Australia CBA / Markit preliminary PMIs for February
Manufacturing 49.8, stays in contraction
prior 49.6
Services 48.4, slides into contraction
prior 50.6
Composite 48.3, also slips into contraction
prior 50.2
Says the report5:
a renewed fall in business activity in February
both manufacturers and services companies recording lower output
Thought modest, the rate of reduction was the steepest seen since data collection began in May 2016, with panel members linking this to a combination of
- subdued client demand,
- adverse weather
- and the Covid-19 outbreak
February saw business confidence weaken among Australian companies, with sentiment the lowest since last October.
