Preliminary PMI from Australia for April, Judo Bank / S&P Global.
Manufacturing 48.1
- prior 49.1
Services 52.6
- prior 48.6
Composite 52.2, highest since June of last year
- prior 48.5
Commentary from the report, in (very) brief::
- Manufacturing activity remains soft, a reflection of weaker demand for goods and a gradual slowdown in construction activity in Australia.
- services sector ... bounced strongly, bringing into question the broader economic slowdown.
- All the key activity indicators are up in the month.
