FX.co ★ Australia’s S&P Global Composite PMI Jumps Back to Expansion in April

Australia’s private sector showed a marked turnaround in April 2026, with the S&P Global Manufacturing & Services Purchasing Managers’ Index (PMI) climbing to 50.10 from 46.60 in March. The latest reading, updated on 22 April 2026, signals a move from contraction back to marginal expansion on a month‑over‑month basis.

The improvement in April reverses the weakness seen in March, when the composite PMI had fallen to 46.60, indicating a broad-based slowdown across manufacturing and services. The month‑over‑month comparison highlights that conditions in April strengthened compared with March, whereas March itself had represented a deterioration versus the month before.

Crossing the 50.0 threshold suggests that overall activity in Australia’s manufacturing and services sectors has stabilized and is beginning to grow again, with April’s uptick marking a potential inflection point after the previous month’s contractionary reading.