FX.co ★ Australia's Private Sector Expands the Most in 45 Months

The S&P Global Australia Composite PMI increased to 55.7 in January, up from 51.0 in December, according to the final data. This marks the sixteenth consecutive month of growth and represents the most robust pace in 45 months. The acceleration is driven by stronger growth in manufacturing output and services activity. Correspondingly, new orders surged at their quickest rate since April 2022, buoyed by robust demand across sectors. Employment growth remained strong, enabling companies to effectively manage rising backlogs. While input costs and output price inflation eased from December, indicating reduced price pressures, business confidence diminished, reaching its lowest point since October 2024.