Australia preliminary PMI: Manufacturing 52.8 (prior 53.5) & Services 49.0 (prior 50.6)

S&P Global / Markit flash PMIs from Australia for October.

  • Manufacturing 52.8 vs. September 53.5
  • Services 49.0 vs. 50.6
  • Composite 49.6 vs. 50.9

Australia’s private sector contracted for the first time since
January.

From the report:

  • Private sector output fell in October amid lower demand for Australian goods and services.
  • Foreign demand continued to expand, however, supported by improvements in overseas business activity and favourable exchange rate conditions for international clients.
  • Amid the fall in demand, the overall volume of incomplete business sank in October. This was largely underpinned by lower outstanding business in the service sector.
  • Meanwhile, despite the fall in new orders, Australian private sector firms continued to hire at a solid rate in October both to rebuild their workforce capacity and in anticipation of higher future workloads.
  • On prices, both input costs and output prices continued to climb in the private sector. Survey respondents reported higher costs across a range of categories including fuel, wages and raw materials leading to higher output prices in October

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Meanwhile, AUD is up a few tics. The reopening of Globex has US stock indexes popping, carrying on the improved risk mood.

Nasdaq:



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