AUSTRALIA'S JUDO BANK DECEMBER COMPOSITE PMI HITS A TWO-MONTH HIGH OF 47.4 VERSUS NOVEMBER'S 46.2
According to S&P Global's Preliminary Judo Bank Australia Purchasing Managers' Index (PMI), the December flash Composite PMI climbed to a two-month high of 47.4 compared to November's thirteen-month low of 46.2.
Key Highlights
Flash Australia Composite PMI Output Index: 47.4 (Nov: 46.2)
Flash Australia Services PMI Business Activity Index: 47.6 (Nov: 46.0), 2-month high
Flash Australia Manufacturing PMI: 47.8 (Nov: 47.7), 2-month high
All three sectors of the December preliminary PMI (Composite, Manufacturing, and Services) hit a two-month high, with all three datapoints remaining in contraction territory below 50.0.
According to Warren Hogan, Chief Economic Advisor at Judo Bank:
“The December Flash PMI report showed some minor improvements in business activity heading into the end of the year but confirms that the economy remains on a soft-landing trajectory. Both key activity indicators remain below 50, in line with a growth ‘pause’, and are well above levels indicative of economic recession
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