Australia’s manufacturing sector returned to growth in November.

51.6 in November, strongest since August

• from 49.7 in October
• the November preliminary was 51.6

Remarks from the report:

Jingyi Pan, Economics Associate Director at S&P Global
Market Intelligence

“The Australia Manufacturing PMI showed that the
goods producing sector returned to growth in the
penultimate month of the year. While modest, the pace
of improvement was the quickest in three months, driven
by fresh increases in both new business and output.
“Forward-looking indicators, including the New Orders
and Future Output indices, pointed to the likelihood for
growth to sustain in the near term. It was also positive to
see headcounts rising at a pace among the fastest so far
this year.

“Supply conditions remained challenging, however, with
goods producers facing the worst lengthening of delivery
times since last December amid supply constraints,
shipment delays and congestions at ports. That said,
prices were not immediately impacted as rates of
inflation eased in November.”

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AUD/USD is around 0.6540.