The Commonwealth Bank Composite PMI for Australia was revised slightly higher to 52.7 in June 2020 from a preliminary estimate of 52.6 and May's 28.1. The reading pointed to the first expansion in private sector activity in five months and the sharpest since December 2018, amid a further easing of coronavirus lockdown restrictions. The services sector returned to growth (PMI at 53.1 vs 26.9 in May) and manufacturing output shrank at a softer pace (PMI at 49.8 vs 44 in May). New orders stabilised, ending a four-month sequence of decline and the job shedding rate eased. In contrast, export orders continued to fall sharply, particularly within services. On the price front, input prices rose for the first time in three months and output prices increased. Lastly, sentiment improved to a nine-month high amid optimism that the worst of the disruption from the covid-19 has passed and that operating conditions will gradually return to normal.
Composite Pmi in Australia averaged 51.92 points from 2016 until 2020, reaching an all time high of 58.30 points in March of 2017 and a record low of 21.70 points in April of 2020. This page provides - Australia Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Commonwealth Bank Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Markit Economics
Composite Pmi in Australia is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Australia to stand at 53.70 in 12 months time. In the long-term, the Australia Commonwealth Bank Composite PMI is projected to trend around 53.80 points in 2021 and 53.40 points in 2022, according to our econometric models.