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Our first March data point.
- Flash Australia Composite PMI Output Index: 47.0 Index, sa, >50 = growth m/m % qr/qr (Feb: 52.4)
- Flash Australia Services PMI Business Activity Index: 46.6 (Feb: 52.8)
- Flash Australia Manufacturing PMI: 50.1 (Feb: 51.0)
- Flash Australia Manufacturing PMI Output Index: 49.8 (Feb: 49.6)
S&P says that Australia’s private sector entered contraction at the end of Q1 2026, marking the first decline in activity in 18 months.
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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.