Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
AustraliaAustralia CommBank Manufacturing PMI climbed to 54 in July 2020
FMPMonthlyReleased August 2020
Australia CommBank Manufacturing PMI climbed to 54 in July 2020, released August 2020, up 2.8 from June's 51.2 reading. The reading matched the 53.4 consensus. CommBank Manufacturing PMI has now risen for 6 consecutive months. Over the past 3 months, CommBank Manufacturing PMI averaged 48.24, vs 48.1 in the prior 3-month window. CommBank Manufacturing PMI is now the highest in 15 months.
Latest Release
54
Actual
53.4
Consensus
51.2
Previous
Median Absolute Error
±0.39
across last 12 releases
Last Call
Aug 2020
Predicted: 53.68
Actual: 54
Error: -0.32
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| AUD/USD | ▲ Direct | +0.55 | FOREX | Bullish AUD | → View |
| AUD/JPY | ▲ Direct | +0.45 | FOREX | Bullish AUD | → View |
| AUD/NZD | ▲ Direct | +0.40 | FOREX | Bullish AUD | → View |
| XAU/USD | ▲ Direct | +0.35 | COMMODITIES | Watch | → View |
| NZD/USD | ▲ Direct | +0.35 | FOREX | Bullish NZD | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CommBank Manufacturing PMI (Australia) was reported at 55.50 in September 2020. The reading rose from the previous value of 53.60.
WHY IT MATTERS
The trailing three releases averaged 54.33, up from the prior three at 52.87.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with AUD/USD (Bullish AUD). A secondary relationship exists with AUD/JPY, positively correlated (Bullish AUD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.39.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Interest Rate Decision (Jun 16) and RBA Rate Statement (Jun 16).
Auto-generated from current model state · Refreshes on each release · Last update September 2020.
SHARE
CommBank Manufacturing PMI - AU
Loading chart data...
About CommBank Manufacturing PMI — Australia
DEFINITION
The CommBank Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in Australia. It provides valuable insights into the overall health and growth of the industry, based on factors such as new orders, production levels, and employment. This indicator is closely monitored by investors, businesses, and policymakers as it reflects the current and future economic conditions of the country. With its timely and accurate data, the CommBank Manufacturing PMI is a crucial tool for making informed decisions in the financial market.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Sep 2020): actual 55.5. Prior reading (Aug 2020): 53.6. Before that (Aug 2020): 53.9.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with AUD/USD (Bullish AUD, r=0.55) — a useful reference for forex-focused traders.