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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
AustraliaAustralia Markit Composite PMI climbed to 56.6 in February 2022
FMPMonthlyReleased March 2022
Australia Markit Composite PMI climbed to 56.6 in February 2022, released March 2022, up 9.9 from January's 46.7 reading. The reading matched the 55.9 consensus. Markit Composite PMI has now risen for 4 consecutive months. Over the past 3 months, Markit Composite PMI averaged 51.54, vs 50.43 in the prior 3-month window. Markit Composite PMI is now the highest in 7 months.
Latest Release
56.6
Actual
55.9
Consensus
46.7
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
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
Markit Composite PMI (Australia) was reported at 57.10 in March 2022. The reading rose from the previous value of 56.60.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 56.53, up from the prior three at 48.97.
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).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Construction Work Done QoQ (May 27) and Inflation Rate YoY (May 27).
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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Markit Composite PMI - AU
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About Markit Composite PMI — Australia
DEFINITION
Markit Composite PMI is a widely recognized financial indicator that measures the overall economic health of a country or region. It combines data from the manufacturing and services sectors to provide a comprehensive view of business activity and growth. This indicator is closely monitored by investors, policymakers, and businesses as it can provide valuable insights into the current and future state of the economy. A reading above 50 indicates expansion, while a reading below 50 suggests contraction. Markit Composite PMI is a valuable tool for decision-making and risk management in the financial world.
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 (Mar 2022): actual 57.1. Prior reading (Feb 2022): 56.6. Before that (Feb 2022): 55.9.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher 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.