The CBA Flash PMI:
The latest Commonwealth Bank Flash Composite PMI® signalled a further substantial decline in business activity in the Australian private sector as a result of the coronavirus disease 2019 (COVID-19) pandemic. Although May saw the tentative easing of restrictions, this was only enough to see a slight softening of the pace of contraction as demand continued to fall sharply. That said, companies were much more confident regarding the 12-month outlook than they were in April.
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