Australia S&P Global June final services PMI at 51.8, a big jump from May and ahead of the flash reading:
- preliminary was 51.3, prior was 50.6 in May
Composite 51.6, ditto:
- preliminary was 51.2, prior was 50.5 in May
In summary from the report:
- Australia’s services sector gained momentum in June, with stronger demand driving higher activity and job growth, according to S&P Global PMI data. The rebound in services offset weak manufacturing, keeping Q2 growth broadly in line with Q1.
- Export demand weakened amid global headwinds, but business confidence jumped to a three-year high.
- Price pressures remained subdued, supporting the case for potential monetary easing ahead.
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The manufacturing PMI for June slowed a little from May but remained in expansion:
The preliminary readings for service and composite PMIs for June can be found here:
This article was written by Eamonn Sheridan at www.forexlive.com.
