Australian Preliminary Manufacturing PMI for February 50.6 (prior 50.2)

Manufacturing PMI: 50.6

• prior was 50.2

Services PMI 51.4

• prior 51.2

Composite 51.2

• prior 51.1

more to come

Commenting on the flash PMI data, Jingyi Pan,
Economics Associate Director at S&P Global Market
Intelligence said:

• “February’s S&P Global Flash Australia PMI data outlined
  further improvements in private sector business
  conditions. Although modest, the expansion in private
  sector output was the quickest in six months to suggest
  that economic conditions further improved in the
  opening quarter of 2025. Moreover, the improvements
  were broad-based as faster services new business
  growth was accompanied by a renewed rise in goods new
  orders, the first since November 2022.
• “That said, a fall in business sentiment to the lowest
  level since last October provided mixed signals for nearterm economic performance. Anecdotal evidence
  reflected concerns over the economic outlook despite
  business activity rising over February and interest rates
  being lowered during the survey period. This sense of
  caution was also prevalent in firms’ reluctance to fully
  pass on cost increases, leading to lowered selling price
  inflation in February.”

***

Final February data will be published on 3 March for
manufacturing and on 5 March for services and composite
indicators.

This article was written by Eamonn Sheridan at www.forexlive.com.