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🚨 🇦🇺 Australia services PMI slumps into contraction: 47.8 from 51.9

October 22, 2026 · 1 min read · Pardip Bansal

🚨 🇦🇺 Australia services PMI slumps into contraction: 47.8 from 51.9

🇦🇺 The S&P Global October flash composite PMI dropped 3.6 points to 47.7, per newswires
🇦🇺 Services did the damage, falling to 47.8 from 51.9, while manufacturing edged up to 49.7 from 49.6

FO view: A services-led slide into contraction adds to the risk-off tone after the AI-led sell-off and leans against any hawkish RBA read, a softer Aussie fits the day's haven bid.

23 Oct 2026, 02:15 GST | 23:15 UK (BST)

Not investment advice.

FILED UNDER News Australia