S&P Global / Judo Bank Australian Manufacturing PMI for July 2024
prior 47.2, preliminary 47.4
From the report, key findings:
Manufacturing output decline accelerates amid
falling new orders
Export orders contract at fastest pace in four years
Job shedding unfolds at quickest rate since June 2020
In summary:
Output and new orders are at cyclical low levels, indicating a slowdown in manufacturing.
Employment index below 50 suggests job shedding, potentially due to structural changes.
Input prices remain stable but elevatedOutput price inflation is low, aligning with RBA’s inflation target.
Low inventory levels reflect caution in production.
This article was written by Eamonn Sheridan at www.forexlive.com.
