The Manufacturing PMI for March 2024 for Australia via S&P Global / Judo Bank:
47.3
the preliminary was 46.8 while the previous month’s (February) was 47.8new orders fell at the equal fastest rate since May 2020rates of inflation reported eased back
From the report:
the latest PMI survey suggests little cyclical recovery
is imminentManufacturing PMI weakened
further in March to a cyclical low of 47.3output and new
orders indexes holding near cyclical lowsthe employment index in the manufacturing sector fell to a
new cyclical low and was well below the 50.0 index levelstretched
supplier delivery times in 2024 likely reflect shipping disruptions
in the Middle Eastcost pressures eased slightly in March, although they are still
elevated compared to the pre-pandemic periodoutput prices index fell to a cyclical low point consistent
with very little goods inflation across the Australian economy
Not a good report
This article was written by Eamonn Sheridan at www.forexlive.com.