Australia CBA / Markit preliminary PMIs
Manufacturing 55.5
- prior 53.6
Services 50.0
- prior 49.0
Composite 50.5
- prior 49.4
From the report:
- The upturn in the Australian manufacturing sector continued in September, supported by further increases in production and sales. Notably, export orders rose for the first time in eight months, albeit modestly. Job creation was also reported for the first time since November 2019 as capacity pressures rose. Meanwhile, supply chains remained under severe pressure amid freight delays, import restrictions and transport capacity issues.
- Services activity was unchanged in September following a drop in August. Demand conditions were also broadly stable. The survey however indicated a further development of spare capacity in the service sector, which led to a sharper fall in employment. Meanwhile, input cost inflation persisted for the fourth straight month in September, but output charges fell as firms offered discounts to stimulate sales.
ps. If you are confused by the "Services activity was unchanged in September " when its gone from 49 in August to 50 in September ... what the 'unchanged' is referring to is the result is not under 50 (contraction) nor over 50 (expansion) ... at 50 its 'unchanged'.
