Australia's manufacturing sector contracted at the fastest pace since May 2020 in June, with a PMI of 47.2.

Australia's manufacturing sector experienced a fifth consecutive month of contraction in June, with a PMI score of 47.2, down from 49.7 in May. This is the fastest pace since May 2020, driven by fewer new orders for Australian goods producers due to higher interest rates and soft market conditions, resulting in a decline in sales and demand, mainly affecting domestic markets. Export orders remained relatively unchanged.

June 30, 2024
3 Articles