02.09.202623:00:00UTC+00Australia’s Private Sector Momentum Cools as S&P Global Composite PMI Edges Down in August

Australia’s private sector expansion lost a little steam in August, with the S&P Global Manufacturing & Services PMI (Composite PMI) easing to 52.70 from a previous reading of 53.20. The latest figure, updated on 2 September 2026, still signals growth in overall business activity, but at a slightly slower pace than in the prior month.

On a month-over-month basis, the August reading shows that while output across manufacturing and services continues to expand, the pace of improvement has moderated compared with the earlier month’s momentum. Both the “actual” and “previous” comparisons reference month-over-month changes, meaning the current 52.70 level reflects a softer expansion relative to the prior period, when the index stood at 53.20.

Even with the slight downtick, the PMI remains above the 50.0 threshold that separates expansion from contraction, indicating that Australia’s private sector is still broadly in growth territory as of August 2026, albeit with signs of cooling activity. Investors and policymakers are likely to watch upcoming releases closely for confirmation of whether this slowdown is temporary or the start of a more sustained moderation in growth.