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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
AustraliaAustralia Judo Bank Composite PMI climbed to 50.2 in October 2024
FMPMonthlyReleased November 2024
Australia Judo Bank Composite PMI climbed to 50.2 in October 2024, released November 2024, up 0.6 from September's 49.6 reading. The reading matched the 50 consensus. Judo Bank Composite PMI has now risen for 3 consecutive months. Over the past 3 months, Judo Bank Composite PMI averaged 50.46, vs 51.02 in the prior 3-month window. The reading is in the 50th percentile of the trailing 24-month range.
Latest Release
50.2
Actual
50
Consensus
49.6
Previous
Median Absolute Error
±0.32
across last 12 releases
Last Call
Nov 2024
Predicted: 49.95
Actual: 50.2
Error: -0.25
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
Judo Bank Composite PMI (Australia) was reported at 50.20 in November 2024. This beat the market consensus of 50.00 by 0.20. The reading rose from the previous value of 49.60.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 49.87, down from the prior three at 50.97. In November readings over the past 3 years, Judo Bank Composite PMI has averaged 48.07.
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 0.32.
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 November 2024.
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Judo Bank Composite PMI - AU
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About Judo Bank Composite PMI — Australia
DEFINITION
The Judo Bank Composite PMI is a leading financial indicator that measures the overall health and performance of the Australian economy. It combines data from the manufacturing and services sectors to provide a comprehensive view of economic activity. This indicator is highly regarded by investors and policymakers as it offers valuable insights into the current and future state of the economy. With its timely and accurate data, the Judo Bank Composite PMI is a crucial tool for making informed financial decisions.
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 (Oct 2024): actual 50.2, consensus 50. Prior reading (Oct 2024): 49.8. Before that (Sep 2024): 49.6.
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.