Preliminary data shows Australia’s manufacturing sector remained stable while services and composite PMIs declined in August.
Australia’s S&P Global Manufacturing PMI remained unchanged at 52.0 in August, matching July’s reading, according to preliminary data. The index signals continued expansion in the sector, though growth remains modest.
The Services PMI fell to 52.9 from 53.6 in July, while the Composite PMI dropped to 52.5 from 53.2. Both indicators suggest a slight slowdown in broader economic activity.
The AUD/USD pair showed minimal reaction, trading near 0.7115 with a slight decline. The Australian Dollar remained weaker against major currencies, particularly the British Pound.