22.04.202623:19:43UTC+00Australia Composite PMI Signals Modest Recovery

Australia’s S&P Global Composite PMI rose to 50.1 in April 2026 from a final reading of 46.6 in March, according to flash estimates, indicating a marginal return to growth. Services activity rebounded, but manufacturing output contracted at a faster pace as firms contended with disruptions related to the Middle East conflict. Export orders continued to rise, albeit modestly, supported by demand from North America, Asia, and New Zealand. Overall new business, however, declined for a second consecutive month amid heightened client uncertainty. Employment growth strengthened, enabling firms to reduce backlogs of work. On the cost front, input price inflation accelerated for a third straight month to its highest level since August 2022, driven by increased fuel and shipping costs. Companies passed part of this cost pressure on to customers, pushing output price inflation to a three-and-a-half-year high. Finally, business confidence deteriorated to its weakest level in nearly two and a half years, reflecting mounting concerns over both costs and demand.