IHS Markit flash PMIs for March 2022 in Australia.
All 3 in expansion.
All 3 higher than in February
Comment from S&P Global on the data:
- "The Australian economy continued to expand strongly in March, according to the S&P Global Flash Australia Composite PMI, reflecting robust business conditions post the COVID-19 Omicron wave.
- "Price pressures worsened, however, unsurprisingly aggravated by the slew of issues including floodings In Australia, the Ukraine war and broader supply chain constraints. This will be worth watching going forward with business confidence amongst private sector firms clearly hit by concerns over rising costs.
- "Higher employment levels in March had been a positive sign, though firms also widely reported higher wages. Meanwhile the reopening of international borders led to the first new export business growth in the service sector since June 2021, which was a boost for domestic activity."
High prices (inflation) continue to be a consistent theme across PMIs from not only Australia.
