S&P Global Australian Flash PMIs for January 2025:>
Manufacturing PMI: 49.8
- prior was 47.8
- jumps to a 12-
month high
Services PMI 50.4
Composite 50.3
From the reports, comments from Jingyi Pan,
Economics Associate Director at S&P Global Market
Intelligence:
- “The first set of S&P Global Flash Australia PMI data for
2025 brought positive news with Australia’s private
sector remaining in growth territory amid rising services
activity, while manufacturing output stabilised after
falling for over two years straight.
- “Incoming new orders meanwhile expanded at an
accelerated rate, hinting at further growth in the near term. That said, the uptick in new work was underpinned
mainly by improvements in domestic demand, as the
reduction in export orders, particularly in the
manufacturing sector, outlined the uncertainties
pertaining to external trade.
“Rising inflationary pressures observed from these early
PMI indicators also outlined a challenging outlook for
sales. Not only have rising prices dampened sales thus
far according to anecdotal evidence, the potential to
keep interest rates elevated for longer also poses a
threat to the outlook for growth in 2025. Overall, S&P
Global Market Intelligence forecasts growth at 2.1% for
Australian GDP in 2025.”
***
Final January data are published on 3 February for
manufacturing and 5 February for services and
composite indicators.
