Australia's manufacturing sector contracts sharply, with PMI falling to 46.7 in September.
In September, Australia's manufacturing sector saw a notable contraction, with the Manufacturing Purchasing Managers' Index (PMI) falling to 46.7 from 48.5 in August. This decline reflects the fastest drop in new orders and production in 52 months, driven by weakened demand and decreased export orders. The services PMI also slipped to 50.6, while the composite index dropped to 49.8, indicating ongoing economic contraction.
September 23, 2024
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