FX.co ★ Australia’s Composite PMI Falls to Seven-Month Low

Australia’s S&P Global Flash Composite PMI declined to 48.5 in October 2026 from 51.9 in September, remaining above the preliminary estimate of 47.7 but marking a seven-month low. By slipping below the 50.0 no-change threshold, the latest reading signalled a renewed contraction in private-sector activity, with output falling in both manufacturing and services.

New business continued to grow, though only marginally and at a slower pace, supported primarily by domestic demand, while new export orders were unchanged. Rising backlogs of work prompted a fresh increase in employment, though job creation was limited to the services sector. Business confidence stayed muted.

Input costs and output prices both rose at a faster pace in October, with inflation for each exceeding its respective long-run series average.