-
IHS Markit Flash Australia Composite PMI
Australia’s private sector shrank for the first time in four months, according to Flash PMI® data, affected by the latest surge in COVID-19 infections. Private sector output and demand both declined in January which led to employment growth grinding to a halt. Meanwhile, amid the disruptions backlogged work continued to build while input price inflation rose. Business optimism was likewise affected, falling sharply at the start of the year. The IHS Markit Flash Australia Composite Output Index* fell from 54.9 in December 2021 (final reading) to a five-month low of 45.3 in January. This marks the first contraction ... (full story)