CBA/Markit Services and Composite PMI for September (final)

Services 50.8

  • flash reading was 50.0
  • prior 49.0

Composite 51.1

  • flash 50.5
  • prior 49.4

Via IHS Markit (bolding mine):

  • "PMI data indicated that business activity rose slightly at the end of the third quarter after contracting in August. Likewise, demand conditions also improved in September, helping to boost confidence to the strongest for just over two years.
  • "However, the survey also raised concerns, especially on labour market prospects. Job shedding persisted in September as an absence of a robust recovery in demand contributed to spare capacity.
  • "Nevertheless, the picture for the Australian economy is much improved in recent months despite the re-imposition of containment measures during August. The average PMI for the third quarter was considerably higher than in the second quarter, at the height of the pandemic, surging from 34.2 to 52.8."