Australia's manufacturing PMI fell to 46.7 in September, marking eight months of contraction.
Australia's manufacturing sector weakened further in September, with a PMI of 46.7, down from 48.5 in August, marking eight months of contraction. The decline is driven by falling new sales, reduced orders, and declining exports linked to high interest rates and poor market conditions. Output fell sharply, resulting in job cuts. While there are some optimistic expectations for recovery, overall conditions remain subdued, impacted by weak construction and consumer markets.
October 01, 2024
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