Australia Flash Manufacturing PMI 52.9 vs 51.3 Prior
Australia Flash Services PMI 55.1 vs 53.8 Prior
Australia Flash Composite PMI 54.9 vs 53.6 Prior
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Composite PMI: 54.9 (Jul 53.8), highest since Apr 2022
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Services PMI: 55.1 (Jul 54.1), strongest in 40 months
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Manufacturing PMI: 52.9 (Jul 51.3)
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Manufacturing output: 53.9 (Jul 52.3)
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Drivers: Stronger new orders and exports, best export growth in 6 months with demand from US, Europe and APAC
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Employment: Services hiring up, fastest since Apr 2023; manufacturing jobs slightly down, first fall since Feb
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Backlogs: Capacity gains stabilized outstanding work after 3 months of backlog clearance
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Prices: Input and output price inflation eased, still rising but at softer pace
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Sentiment: Improved, manufacturers most upbeat since Apr 2022 expecting better conditions and expansion
Link to the publication.
This article was written by Arno V Venter at investinglive.com.
