Australia's Private Sector Expands the Most in 45 Months

EthereumCraftsman · 2026-02-03T22:05:18+00:00

The S&P Global Australia Composite PMI increased to 55.7 in January, marking 16 months of growth and the fastest pace in 45 months. Manufacturing and services saw heightened activity, with new orders rising significantly. While job creation remained robust, business confidence declined to its lowest since October 2024.

EthereumCraftsman

2026-02-03 22:05:18

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The S&P Global Australia Composite PMI rose to 55.7 in January from 51.0 in December, final data showed. The reading marked the sixteenth consecutive month of expansion and signaled the strongest pace of growth in 45 months. Faster growth in both manufacturing output and services activity contributed to the sharp acceleration. In line with this, overall new orders rose at the fastest pace since April 2022, supported by strong demand across sectors. Job creation remained solid, allowing firms to continue addressing rising backlogged orders. Rates of input cost and output price inflation softened from December, pointing to easing price pressures. Despite the stronger activity backdrop, business confidence weakened and fell to the lowest level since October 2024.

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