Australian Services PMI and Manufacturing Output Decline in October
Australia's economic activity experienced a contraction in October 2026 as both the services and manufacturing sectors faced significant headwinds. The services sector PMI reached a seven-month low of 48.5, signaling a slowdown in output. The Ai Group Manufacturing Index saw a sharp decline of 13.4 points to -20.1. This downturn is attributed to several macroeconomic pressures, including sluggish consumer demand, rising input costs, persistent labor shortages, and ongoing shipping disruptions, alongside increased competition from foreign markets.
Topics: Australian Economy Economic Contraction Manufacturing Index Service Sector