Australia Manufacturing PMI Improves To 51.0 In April - S&P Global
(RTTNews) - The manufacturing sector in Australia bounced back up into expansion territory, the latest survey from S&P Global showed on Thursday with a manufacturing PMI score of 51.0.
That's up from 49.8 in March and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
Total new business placed at Australian businesses decreased for the second month running in April as raised levels of client uncertainty amid heightened geopolitical tensions dampened sales. While there was evidence of soft domestic demand, export orders increased again.
The survey also showed that the services PMI improved to 50.3 from 46.3 in March and the composite PMI climbed to 50.1 from 46.6.
April saw the rate of cost inflation across the Australian private sector quicken for the third month running to its highest level since August 2022. Hikes to fuel and shipping costs frequently featured in the qualitative part of the survey as the key drivers of rising input prices.
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