Aussie services PMI expands, manufacturing PMI crashes

Advertisement

Below is Judo Bank’s Flash Australia Composite PMI, which shows an ongoing expansion in services activity while manufacturing continues to contract.


Key findings

  • Flash Australia Composite PMI Output Index: 51.2 (Apr: 53.0), 2-month low
  • Flash Australia Services PMI Business Activity Index: 51.8 (Apr: 53.7), 2-month low
  • Flash Australia Manufacturing PMI Output Index: 47.4 (Apr: 48.8), 21-month low
  • Flash Australia Manufacturing PMI: 48.0 (Apr: 48.0), joint-weakest since May 2020

Flash PMI® data for May signalled a continued expansion of the Australian private sector midway through the second quarter. Faster new order growth, primarily in the service sector, drove the increase in activity and corresponding expansion in employment levels.

Advertisement

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.