Australian S&P Global PMI Final for May
Services 50.6
preliminary was 50.5prior 51.0
Composite 50.5
preliminary was 50.6prior 51.0
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From the report, Jingyi Pan, Economics Associate Director at S&P Global
Market Intelligence:
“Growth in the Australia service sector slowed midway
through the second quarter of 2025, according to
the latest S&P Global PMI data. This was centred on
a softer rise in new business, as external conditions
deteriorated once again. Concerningly, optimism levels
among services firms also softened to a six-month
low, in contrast to a trend of rising confidence among
manufacturers.
“While hiring activity was sustained at a solid level to
signal a relatively tight labour market, the easing of
inflationary pressures bodes well for a further reduction
of interest rates to support growth in the coming
months. Output price inflation notably fell to its lowest
level since late 2020, which, alongside the easing of
charge inflation in the goods producing sector, hints at a
softening CPI outlook for Australia.”
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Earlier this week was the:
Australian S&P Global Manufacturing PMI (Final, May 2025) 51.0 (Prev. 51.7)
This article was written by Eamonn Sheridan at www.forexlive.com.