FX.co ★ Australia’s Composite PMI Cools in February, Pointing to Slower Private-Sector Momentum

Australia’s private-sector activity lost some momentum in February, as the S&P Global Manufacturing & Services PMI eased to 52.40 from 55.70 on a month-over-month basis.

Both the previous and current readings refer to February 2026, with the latest update released on 3 March 2026, indicating a notable slowdown compared with the prior month’s pace. While the index remains above the 50-point threshold that separates expansion from contraction, the decline suggests a moderation in growth across both manufacturing and services.

On a month-over-month comparison, the “Actual” figure shows February’s combined PMI weakening from the strong expansion previously recorded, signaling that while the Australian private sector continues to grow, it is doing so at a slower rate than in the preceding month. Investors and policymakers will be watching subsequent releases closely to determine whether this marks the start of a more sustained cooling in activity.