Australien Einkaufsmanagerindex Composite

The Judo Bank Australia Composite Output Index increased to 53.3 in March 2024 from 52.1 in the previous month, according to final readings. Australia's private sector output growth accelerated sharply at the end of the first quarter, reaching the fastest pace in almost two years. This was mainly driven by strong growth in the services sector, although manufacturing continued to shrink. The increase in output was supported by a modest rise in new orders, but employment growth slowed, with services seeing fewer job additions and manufacturing shedding jobs faster. Prices rose at a slower rate in both sectors, leading to lower overall inflation. Despite these challenges, overall optimism was at a seven-month high, driven by increased confidence in the services sector.