finance
Australia S&P Global PMI Composite Falls to 47.8 in May
The preliminary S&P Global PMI Composite reading for Australia dropped to 47.8 in May from 50.4 the previous month. Manufacturing and services sectors both recorded lower readings than in April.
May 20, 7:06 PM·1m read1 source
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The preliminary S&P Global PMI Composite for Australia fell to 47.8 in May from the prior month's 50.4, according to data reported by @LiveSquawk.
The manufacturing PMI came in at 50.2, down from 51.3 in April.
The services PMI declined to 47.7 from 50.7 the previous month. The composite reading below 50 indicates contraction in overall private-sector activity. Both manufacturing and services components contributed to the lower headline figure. The data reflect month-over-month changes in business conditions across the Australian economy.
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