The data and more is here from earlier:
- Response to the lower Australian PMIs (flash) for February
- Australia February preliminary PMIs: Manufacturing 49.8 (prior 49.6) Services 48.4 (prior 50.6)
Comments from Shane Oliver, AMP Head of Investment Strategy & Chief Economist
- sharp fall in services (possible as Covid-19 impacts tourism etc)
- Consistent with a very rough March quarter (probably with GDP contracting)
(bolding mine)
