Australia’s S&P Global Composite PMI came in above expectations in September, with the index rising to 51.3 versus a forecast of 50.8. The reading moved further into expansionary territory, as any level above 50 indicates growth in overall private-sector activity.
The data point adds to evidence of improving momentum at the end of the third quarter. Markets will weigh whether the firmer PMI print feeds through into forward indicators for demand and pricing over the coming months.
Stronger-Than-Expected PMI Reading
Australia’s S&P Global Composite PMI came in above expectations in September, with the index rising to 51.3 versus a forecast of 50.8. The reading moved further into expansionary territory, as any level above 50 indicates growth in overall private-sector activity.
Implications For Private-Sector Growth
The data point adds to evidence of improving momentum at the end of the third quarter. Markets will weigh whether the firmer PMI print feeds through into forward indicators for demand and pricing over the coming months.
