Australia’s S&P Global Composite PMI rose to 52.6 from the previous 52.1, marking an increase of 0.5 points. This indicates a modest expansion in business activity, as the index remains above the neutral 50 mark.
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The actual result matched analyst estimates of 52.6, suggesting that the market had accurately anticipated the level of economic activity. This alignment with expectations is likely to maintain stability in the stock market, with sectors such as manufacturing and services potentially seeing positive sentiment. The impact is expected to be more sentiment-driven in the short term, as the PMI reflects ongoing business conditions rather than immediate policy shifts.