Australian Business Activity Rises in January as Manufacturing Sector Stabilizes for First Time in Two Years

MT NewswiresJan 24 06:55

The preliminary January S&P Composite Output PMI for Australia slightly rose to 50.3.

S&P Global released the preliminary value of Australia's Purchasing Managers' Indices (PMI), indicating that supported by an increase in service sector activity and stable manufacturing output, the seasonally adjusted Australian PMI composite output index for January is 50.3, up from 50.2 in the previous three months, showing that the private sector output in Australia has seen slight growth for the fourth consecutive month. Furthermore, the rate of expansion is the most significant since August 2024. The services business activity index is 50.4, the lowest in six months. As for the manufacturing PMI, it rose from 47.8 in December to 49.8 in January, reaching a 12-month high; the manufacturing output index reports 5.

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