Australian services PMI hits 7-month low of 48.5; Ai Group manufacturing index plunges
FROM THE WIRE · SEEKINGALPHA.COM
[Data Concept] Australian economic activity contracted in October 2026 as both manufacturing and service sector output weakened under macro pressures. The Ai Group Manufacturing Index dropped sharply by 13.4 points to -20.1, constrained by sluggish demand, elevated input costs…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishContraction data for the Australian economy may weigh on the ASX 200 and the Australian dollar.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01S&P Global Services PMI fell to 48.5 from 51.9 in September, below the 50 line.
- 02The Ai Group Manufacturing Index dropped 13.4 points to -20.1.
- 03The Flash Composite PMI was 48.5, above preliminary estimates of 47.7.
- 04The S&P/ASX 200 fell 0.6% to 8,836.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
S&P/ASX 2008,817.40Market closedtoday -0.78%Negative Australian Dollar/US Dollar FX Spot Rate0.6997+0.17%today +0.39%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets