Australia Markit preliminary PMI (June) Manufacturing 58.4 (prior 60.4) & Services 56.0 (prior 58.0)

Australian data – the Markit preliminary PMIs for June 2021

Manufacturing 58.4
Services 56.0
Composite 56.1
 Solidly in expansion for all these. 
Markit commentary:

  • “Australia’s private sector growth momentum further eased in June but remained at a strong level to indicate continued improvement in economic conditions during the recovery from the COVID-19 pandemic. 
  • “Renewed movement restrictions in the Victorian state and supply constraints stood out as two key reasons weighing on the growth momentum for Australia in the June flash PMI data, which is worth scrutinising. 
  • “Meanwhile private sector firms were also slightly less optimistic with regards to output in the next 12 months amid the uncertain virus and supply situation.”
Australia markit pmi  compared with gdp

The final results for these will be released in little over a week. 

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