Australia Flash Composite PMI Slumps to 47.7 in October as Price Pressures Accelerate

Australia's private-sector activity entered contraction for the first time in five months during October, with the S&P Global Flash Composite PMI falling to 47.7 from 51.3 in September, reaching its lowest level since March. The downturn was led by services, where the index dropped from 51.9 to 47.8, while manufacturing output stood at 46.5 and headline manufacturing printed at 49.7. Despite weakening demand, input costs rose at their fastest pace since May due to energy, shipping, commodity, and wage expenses, accelerating output price inflation for a second straight month.