Manufacturing PMI: 50.6, 27-month high
- prior was 50.2
Services PMI 51.4
- prior 51.2
Composite 51.2
- prior 51.1
6-month high
Flash Australia PMI Composite Output Index(1): 51.2 (Jan:
51.1). 6-month high.
Flash Australia Services PMI Business Activity Index(2):
51.4 (Jan: 51.2). 6-month high.
Flash Australia Manufacturing Output Index(3)
: 50.1 (Jan:
50.5). 2-month low.
Flash Australia Manufacturing PMI(4)
: 50.6 (Jan: 50.2). 27-
month high.
Nice to see improvement, although it is limited.
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.