Australia’s PMI Manufacturing surged to 52.6 from 50.4—marking a 29-month high—while PMI Services ticked up to 51.2 from 50.8. PMI Composite , which combines both sectors, rose to a 7-month high at 51.3.
Jingyi Pan of S&P Global Market Intelligence highlighted that the output growth was not only the strongest in seven months but also “broad-based” across both manufacturing and services. Despite a decline in export orders due to weather disruptions and weak global conditions, domestic demand rebounded impressively, pushing new orders to their highest growth rate in nearly three years.
However, the report also highlighted a notable dip in business confidence. Suppressed price increases may have helped support near-term demand. But “tariff uncertainty may continue to cast a shadow on output growth in the year ahead”.
