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Australia AUD

Australia Markit Manufacturing PMI Flash

Impact:
Medium
Source: Markit Economics

Latest Release:

Date:
Surprise:
2.3
| AUD
Actual:
57.3
Forecast: 55
Previous/Revision:
57
Period: Mar
What Does It Measure?
The Australia Markit Manufacturing PMI Flash measures the economic health of the manufacturing sector in Australia, primarily focusing on production levels, new orders, supplier deliveries, and inventory changes. It reflects the overall direction of manufacturing activity, with values above 50 indicating expansion and below 50 signaling contraction; this is a national indicator.
Frequency
This report is released on a monthly basis, providing a preliminary estimate of manufacturing conditions typically during the first week of the month.
Why Do Traders Care?
Traders monitor the Australia Markit Manufacturing PMI Flash because it serves as an important leading indicator of economic activity, impacting financial markets, particularly the Australian Dollar (AUD), equities, and commodities. Stronger-than-expected results are generally bullish for the AUD and stocks, while weaker readings can trigger bearish movements.
What Is It Derived From?
The PMI Flash is derived from a survey of purchasing managers in the manufacturing sector, using a sample size that represents a cross-section of industries. The index is calculated by the diffusion index methodology, wherein a score is derived from the percentage of respondents reporting improvements relative to those reporting declines.
Description
The Australia Markit Manufacturing PMI Flash provides timely insights into the current state of the manufacturing economy, reflecting the sentiment and operational conditions of the sector. It is regarded as a leading indicator, typically signaling future economic performance based on the current activity levels and trends.
Additional Notes
The PMI is often compared to other economic indicators, such as industrial production or employment data, and is viewed as a coincident indicator that aligns closely with economic cycles. Its significance extends beyond Australia, as it can influence perceptions of global manufacturing conditions and policy decisions in related economies.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for AUD, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Mar 23, 2022
57.3
 55
57
 2.3
Feb 20, 2022
57.6
 54
55.1
3.6
Jan 23, 2022
55.3
 57
57.7
 -1.7
Dec 15, 2021
57.4
 59.4
59.2
 -2
Nov 22, 2021
58.5
 58.5
58.2
Oct 21, 2021
57.3
 56
56.8
 1.3
Sep 22, 2021
57.3
 51
52
6.3
Aug 22, 2021
51.7
 57
56.9
-5.3
Jul 22, 2021
56.8
 57.5
58.6
 -0.7
Jun 22, 2021
58.4
 61
60.4
-2.6
May 20, 2021
59.9
 59
59.7
 0.9
Apr 22, 2021
59.6
 56
56.8
3.6
Mar 23, 2021
57
 56.2
56.9
 0.8
Feb 18, 2021
56.6
 57.3
57.2
 -0.7
Jan 21, 2021
57.2
 55.1
55.7
2.1
Dec 15, 2020
56
 55.1
55.8
 0.9
Nov 22, 2020
56.1
 54
54.2
2.1
Oct 22, 2020
54.2
 55.6
55.4
 -1.4