Australia Manufacturing PMI Revised Down to 49.6 in October
The S&P Global Australia Manufacturing PMI was revised downward to 49.6 for October, following a preliminary estimate of 49.7. This figure marks the second consecutive month of contraction for the manufacturing sector, maintaining levels near a 21-month low. The decline in activity is compounded by an acceleration in inflation gauges within the sector. The persistent contraction suggests ongoing headwinds for Australian industrial production as businesses navigate rising input costs and cooling demand.
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Topics: Australia economy economic contraction manufacturing sector PMI
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Part of the story ISM Manufacturing PMI Rises to 55.5% in October, Marking Tenth Month of Expansion (4 articles)