Australia May Manufacturing PMI, final: 49.7 (prior 49.6)The flash reading for this is here:
The final reading is 49.7, the fourth consecutive month in contraction.
From the report, in brief:
- has shown a steady increase
for three consecutive months since its cyclical low point in
February - starting to see an improvement in the sector's employment
indicator, ... surpassed ... 50.0 ... for the first time in seven
months, suggesting that manufacturers are no longer
shedding labour - input price index rose to 60.0, the highest
level since November 2022 - output price index,
representing inflation of consumer prices, rose to its highest
reading in over a year
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: Australia May Manufacturing PMI, final: 49.7 (prior 49.6) (https://www.forexlive.com/news/australia-may-manufacturing-pmi-final-497-prior-496-20240602/)
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