Australia AUD

Australia Markit Composite PMI Final

Impact:
Low
Source: Markit Economics

Latest Release:

Date:
Surprise:
0.7
Actual:
56.6
Forecast: 55.9
Previous/Revision:
46.7
Period: Feb
What Does It Measure?
The Australia Markit Composite PMI Final measures the overall economic health of the private sector by combining data from the manufacturing and services sectors. It focuses on key areas such as production, employment, new orders, and supplier deliveries, with a value above 50 indicating expansion and below indicating contraction, serving as a national indicator.
Frequency
This index is released monthly, with the final figures typically published around the first week of each month, following preliminary estimates.
Why Do Traders Care?
Traders closely monitor the PMI as it provides insights into the economic outlook and potential shifts in monetary policy, influencing key assets like the Australian dollar and equities. Stronger-than-expected results are often seen as bullish for the currency and stocks due to improved growth prospects, while weaker readings may be bearish.
What Is It Derived From?
The PMI is derived from a survey of purchasing managers in various sectors, assessing their views on current business conditions through diffusion indices based on data concerning new orders, output, and employment. It typically involves a significant sample size, ensuring reliable representation of economic activity.
Description
The Markit Composite PMI Final represents a synthesis of economic sentiment across manufacturing and services, providing a timely snapshot of economic activity in Australia. This index helps to gauge trends in growth, employment, and pricing pressures which are essential for forecasting economic performance.
Additional Notes
The PMI serves as a leading economic indicator, giving early signals about the direction of the economy and is often compared to other indicators such as GDP growth and inflation rates. Its readings can also be compared with the PMI data from other regions to assess Australia's relative economic performance.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for AUD, Bullish for Stocks. Lower than expected: Bearish for AUD, Bearish 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 02, 2022
56.6
 55.9
46.7
 0.7
Feb 02, 2022
46.7
 45.3
54.9
 1.4
Jan 05, 2022
54.9
 54.9
55.7
Dec 02, 2021
55.7
 55
52.1
 0.7
Nov 02, 2021
52.1
 52.2
46
 -0.1
Oct 04, 2021
46.5
 46
43.3
 0.5
Sep 02, 2021
43.3
 43.5
45.2
 -0.2
Aug 03, 2021
45.2
 45.2
56.7
Jul 04, 2021
56.7
 56.1
58
 0.6
Jun 02, 2021
58
 58.1
58.9
 -0.1
May 04, 2021
58.9
 58.8
55.5
 0.1
Apr 06, 2021
55.5
 56.2
53.7
 -0.7
Mar 02, 2021
53.7
 54.4
55.9
 -0.7
Feb 02, 2021
55.9
 56
55.6
 -0.1
Jan 05, 2021
55.6
 57
54.9
 -1.4
Dec 02, 2020
54.9
 54.7
53.5
 0.2
Nov 03, 2020
53.5
 53.6
51.1
 -0.1
Oct 04, 2020
51.1
 50.5
49.4
 0.6