Australian final PMIs for August: Services 47.8 (prior 47.9) Composite 48.0 (prior 48.2)

Judo Bank / S&P Global Australian PMIs for August, the final results:

• Services 47.8 vs. prior 47.9
• Composite 48.0 vs. prior 48.2

The Manufacturing was published last week:

• Australia Manufacturing PMI final for August: 49.6 (prior 49.6) & strongest since February

The preliminaries are here:

• Manufacturing & Services Australian preliminary PMIs for August remain in contraction

All three firmly in contraction does not auger well. On Wednesday this week we'll get Q2 GDP, which is not shaping up too well. At the rate the PMIs are heading Q3 won't be much improvement.

Coming up later today is the RBA statement:

• Preview: Reserve Bank of Australia widely expected to leave its cash rate unchanged today