October's business surveys put Australia's services activity in contraction and showed manufacturing weakened, with the factory gauge citing shipping disruptions, labor shortages, higher costs and soft demand.
The 48.5 services PMI was its weakest reading in seven months, leaving it below the 50-point threshold that separates contraction from expansion. The broader composite output measure came in at 47.7, down from 51.3 in September.
Ai Group’s manufacturing gauge lost 13.4 points, taking the index to -20.1. Reported headwinds included soft demand and higher costs, alongside labor shortages, shipping disruptions and foreign-competition pressures.
The figures follow EconoTimes’ earlier coverage of Australia’s October PMI contraction.
