The Commonwealth Bank Manufacturing PMI in Australia rose to 54 points in July of 2020, up from a preliminary estimate of 53.4 and June's 51.2, and its highest reading since December of 2018. Output expanded for the first time in almost a year, and new orders returned to growth, with businesses returning to work as the economy gradually reopened. Backlogs of work increased for the first time in just over a year, but job shedding persisted in July. On the price front, input prices rose at a softer rate while output charges were only marginally increased.
Industrial Sentiment in Australia averaged 53.14 points from 2016 until 2020, reaching an all time high of 57.20 points in December of 2016 and a record low of 44 points in May of 2020. This page provides - Australia Commonwealth Bank Manufacturing PMI- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Commonwealth Bank Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Markit Economics
Industrial Sentiment in Australia is expected to be 51.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Sentiment in Australia to stand at 52.50 in 12 months time. In the long-term, the Australia Commonwealth Bank Manufacturing PMI is projected to trend around 52.70 points in 2021 and 53.50 points in 2022, according to our econometric models.