sasirin pamai
The Judo Bank Flash Australia Services PMI Business Activity Index fell to 52.5 in May, down from 53.6 in April, according to final readings.
Despite the slowdown, this marks the fourth consecutive month of expansion in services activity. The expansion was driven by the fastest rise in new business in two years, supported by accelerated growth in new export business.
The Judo Bank Australia Composite Output Index registered 52.1 in May, down from 53.0 in April, according to final figures.
Separate data showed, The Ai Group Industry Index for the Australian manufacturing sector fell by 17.3 points to -31.1 in May, deepening its contraction. In trend terms, the indicator has been negative since September 2022. Manufacturers reported ongoing difficulties in recruiting suitable staff and a slowdown in orders, particularly export orders to the EU region.
The Ai Group Australian Industry Index fell in May 2024, losing 31.4 points to -40.3 points, marking the 25th consecutive month of contraction. The activity/sales indicator also declined, dropping 45.9 points to -57.8, the lowest level since the pandemic lockdowns of mid-2020.
The S&P/ASX 200 Index rose 0.2% to above 7,750 on Wednesday, recouping some losses from the previous session.
