Commonwealth Bank Sponsors New PMI® Surveys for Australia, Compiled by IHS Markit
Australia is the 39th country covered by the global PMI series from IHS Markit
IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced that Commonwealth Bank, Australia’s largest bank, is the sponsor of the new purchasing managers’ index® surveys for Australia. The first Commonwealth Bank Manufacturing PMI® and the first Commonwealth Bank Services PMI® survey reports were issued today.
Michael Blythe, Chief Economist for Commonwealth Bank said, “The need for reliable, timely updates on what is actually happening in the Australian economy is greater than ever. We are excited to be able to provide that data in easy to read indicators of our economy via the PMI surveys, compiled by IHS Markit.”
The PMI series produced by IHS Markit is one of the most closely-watched signals of business activity and is valued worldwide by central banks, financial markets and business decision makers for providing timely and often unique monthly indicators of economic trends. The indexes are based on monthly surveys of more than 26,000 senior business executives to quantify variables such as output, new orders, employment, exports and prices.
“We are delighted to be partnering with Commonwealth Bank to launch these new PMI surveys for Australia, particularly as these indicators plug one of the few remaining gaps in our PMI coverage of the world’s largest twenty economies,” said Luke Thompson, managing director, global head of PMI at IHS Markit.
“Businesses will now have the tools to quickly and effectively compare their domestic business environment with conditions in key demand centres, such as China, by monitoring our global PMI surveys. Likewise, international investors considering Australia will now benefit from the Commonwealth Bank PMI and the multiple measures of economic activity it offers.”
The Commonwealth Bank Manufacturing PMI will be released at 09:00 AEST on the first working day of each month. The Commonwealth Bank Services PMI will be released at 09:00 AEST on the third working day of each month. This means the release of July manufacturing data will take place on 1st August and the release of the July services data will take place on 3rd August.
Australia marks the 39th country covered by the global PMI series from IHS Markit and the 13th national or regional PMI in the Asia Pacific region.
NOTE:The first Commonwealth Bank Manufacturing PMI® and the first Commonwealth Bank Services PMI® survey reports are attached for your reference. Please do get in touch with the media contacts for more information
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