Australia flash PMI shows manufacturing falls to 49.3 in September
Summary
Australia's flash PMI for September indicated a significant weakening in private-sector momentum, with manufacturing falling to 49.3 from 52.0, marking a contraction in factory activity. This decline represents a sharper deterioration from the previous month's performance, as the reading dropped below the neutral level. Meanwhile, the services sector also experienced a slowdown, easing to 51.4 from 53.2, but it remains in expansion territory, suggesting growth is continuing albeit at a reduced pace.
Analysis
Services: Services activity remained in expansion territory, but its lower reading points to moderating growth compared with the previous month. Manufacturing: The manufacturing reading fell below the neutral level, indicating contraction in factory activity and a sharper deterioration from August. Economic signal: Australia’s September flash PMI showed private-sector momentum weakening, with manufacturing moving into contraction while services continued to expand but at a slower pace.
Categories
macro
Related sources
- https://www.pmi.spglobal.com/Public/Home/PressRelease/b820c481d5ee455aa950eb3c8ddadcef
- https://tradingeconomics.com/australia/manufacturing-pmi
- https://www.pmi.spglobal.com/Public/Home/PressRelease/19b01742d07c4deaa90a63e5d585b150
- https://www.newsquawk.com/headlines/australian-sp-global-services-pmi-final-aug-532-vs-exp-529-prev-536
- https://www.pmi.spglobal.com/Public/Home/PressRelease/d4a5504cf0174c5c9513484b01df7f3b
- https://www.pmi.spglobal.com/Public/Home/PressRelease/fc9666a5c84d437f94e0fa46202d0aec
- https://www.pmi.spglobal.com/Public/Home/PressRelease/70b8c167d55644ec99a00fd668f0cb9a
- https://www.cmcmarkets.com/en-gb/news-and-analysis/the-week-ahead-global-pmis-australia-labour-report-costco-earnings
- https://www.cmcmarkets.com/en-nz/market-news/the-week-ahead-global-pmis-australia-labour-report-costco-earnings
- https://tradingeconomics.com/australia/composite-pmi/news/580606
- https://tradingeconomics.com/australia/services-pmi
- https://kr.investing.com/economic-calendar/manufacturing---services-pmi-2264
- https://tradingeconomics.com/australia/composite-pmi
- https://www.activtrades.com/en/news/weekly-market-outlook-central-bank-moves-data
- https://www.mql5.com/en/economic-calendar/australia/commonwealth-bank-manufacturing-pmi