The business activity of Australia's private sector expanded in March, with key indicators coming in higher than in the previous month and sitting comfortably above the expected figures, according to S&P Global's preliminary report released late Sunday.
The Flash Australia Services PMI Business Activity Index landed above the neutral 50 mark, coming in at 51.2, up from the previous month's figure of 50.8. Meanwhile, the Manufacturing PMI increased from 49.7 in February to 51.9 in March. The composite PMI, which takes into account the results achieved in the two aforementioned sectors, went up from last month's 50.6 to 51.3.
"March's S&P Global Flash Australia PMI data outlined improvements in Australia’s private sector growth at the end of the first quarter of 2025. While modest, the rate of output growth accelerated to the fastest in seven months and was notably supported by broad-based expansions across both the manufacturing and service sectors," Jingyi Pan, Economics Associate Director at S&P Global Market Intelligence said.
