Australian S&P Global PMI Final for May

Services 50.6

  • preliminary was 50.5
  • prior 51.0

Composite 50.5

  • preliminary was 50.6
  • prior 51.0

Earlier this week was the:

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From the report, Jingyi Pan, Economics Associate Director at S&P Global Market Intelligence:

  • “Growth in the Australia service sector slowed midway through the second quarter of 2025, according to the latest S&P Global PMI data. This was centred on a softer rise in new business, as external conditions deteriorated once again. Concerningly, optimism levels among services firms also softened to a six-month low, in contrast to a trend of rising confidence among manufacturers.
  • “While hiring activity was sustained at a solid level to signal a relatively tight labour market, the easing of inflationary pressures bodes well for a further reduction of interest rates to support growth in the coming months. Output price inflation notably fell to its lowest level since late 2020, which, alongside the easing of charge inflation in the goods producing sector, hints at a softening CPI outlook for Australia.”
Source: Forex Live