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2026-02-20 09:55:19
[Australia's February PMI Data Shows Slowdown Across the Board, with Manufacturing and Services Expansion Momentum Weakening] The latest data released by S&P Global shows that, after seasonal adjustment, Australia's preliminary manufacturing PMI fell to 51.5 in February from 52.3 in January; the preliminary services PMI dropped sharply to 52.2 from 56.3; and the preliminary composite PMI also fell significantly to 52.0 from 55.7, but remained roughly in line with last year's average and remained in expansion territory for the 17th consecutive month. Sub-indices show that new orders growth slowed in both manufacturing and services during the period. Overall new business volume fell from a 45-month high reached in January, but growth remained solid. Export orders increased slightly, with new export orders in manufacturing growing slower than in services. Looking ahead, surveyed companies remain optimistic about their business prospects for the next 12 months.
