FLAU - Australia's March services PMI rises to 53.5 manufacturing PMI eases to 46.8

2024-03-21 02:44:10 ET

• The Judo Bank Flash Australia Manufacturing PMI for March decreased to 46.8 from February's 47.8, marking a sharp decline in manufacturing sector conditions, primarily due to a decrease in new orders and output.

• The Judo Bank Flash Australia Services PMI Business Activity Index rose to 53.5 in March from 53.1 in February, indicating a second consecutive expansion and the fastest pace since last April.

• The Judo Bank Australia Composite Output Index increased to 52.4 in March 2024 from 52.1 in the previous month, indicating a second consecutive month of private sector growth in Australia, driven by service sector expansion.

• Separately, the latest figures showed that Australian employment jumped 116,500 in February, much more than market forecasts for a 40,000 increase. The unemployment rate also fell to a five-month low of 3.7% last month, coming in better than market expectations of 4%, as the number of unemployed individuals dropped by 52 thousand to 548.3 thousand.

• Additionally, monthly hours in all jobs rose by 53 million, or 2.8%, to 1,933 million.

• ETFs: ( EWA ), ( FXA ), ( FLAU ).

• The S&P/ASX 200 Index jumped 1.12% to close at 7,782 on Thursday.

• Currency: ( USD:AUD )

• More on Australia

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  • Australia's Judo Bank Services PMI improves to 53.1 in February

  • Australia's manufacturing sector contracts in February

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