Aussie flash PMI stagflates

The Judo Bank flash PMI is pulling back but hardly swiftly.

Flash Australia Composite PMI Output Index: 50.2 (June: 50.7), 6-month low
Flash Australia Services PMI Business Activity Index: 50.8 (June: 51.2), 6-month low
Flash Australia Manufacturing PMI Output Index: 46.3 (June: 46.8), 4-month low
Flash Australia Manufacturing PMI: 47.4 (June: 47.2), 2-month high

Business activity in Australia’s private sector neared stagnation in July as companies faced a second consecutive month of falling new orders.

Employment ticked higher, while rates of inflation quickened.

Business confidence dropped to the lowest since the outbreak of the COVID-19 pandemic.

Alboflation is a mess.

Share

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.