FX.co ★ Australia Composite Flash PMI Hits 6-Month High

Australia's S&P Global Composite PMI rose to 52.6 in July 2026 from a final 50.4 in June, according to flash estimates. This was the highest reading since January and signaled a second consecutive month of expansion in private-sector activity, with growth accelerating to a pace above the long-run average. Services activity recorded its strongest increase in six months, while manufacturing output delivered its best performance of the year. New orders returned to growth after four months of contraction, although external demand continued to weaken. Rising workloads led to the first increase in backlogs in five months, encouraging firms to expand their workforce, with employment growing at its fastest pace since April. Input cost pressures eased to their lowest level since February, but higher fuel, raw material, and wage costs still constrained businesses. Output price inflation ticked up from June, though it remained below April–May levels. Business confidence improved only slightly from June’s multi-year low and stayed muted by historical standards.