Aussie Flash PMI pops out of recession

Thursday 21 September 2023

Judo Bank with the report.

Flash Australia Composite PMI Output Index: 50.2 (Aug: 48.0), 4-month high
Flash Australia Services PMI Business Activity Index: 50.5 (Aug: 47.8), 4-month high
Flash Australia Manufacturing PMI Output Index: 48.2 (Aug: 49.7), 4-month low
Flash Australia Manufacturing PMI: 48.2 (Aug: 49.6), 3-month low

Business activity in Australia’s private sector returned to growth in September, owing to a renewed expansion in the service sector. Greater client interest pushed up overall new orders, while employment levels also rose. While the rate of input cost inflation remained unchanged in September, firms raised their selling prices at a slower rate amid reduced optimism on future output.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.