Australia CBA PMI composite dropped to 40.7, increasing impact of coronavirus

<p>Australia CBA PMI Manufacturing was very steady in March, just dropped -0.1 to 50.1. PMI Services, however, tumbled sharply from 49.0 to 39.8. Hence, PMI Composite dropped from 49.0 to 40.7. CBA Chief Economist, Michael Blythe said: “The sharp deterioration in PMI readings during March underline the increasing impact of the coronavirus on the Australian […]</p>
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