Australia Manufacturing PMI Unchanged At 50.1 - S&P Global
(RTTNews) - The manufacturing sector in Australia continued to barely expand in March, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 50.1.
That's unchanged from the February reading and it remains just barely above the boom-or-bust line of 50 that separates expansion from contraction.
Manufacturing data showed cost inflation at a three-and-a half year high despite muted demand for inputs and lower employment. Panel members linked the increase to elevated raw material prices and fuel costs, often a result of war in the Middle East which was also seen to have severely disrupted supply chains.
The survey also showed that the services PMI posted a score of 46.6, down from 52.8 in February and the composite PMI fell to 47.0 from 52.4 a month earlier.
Qualitative evidence linked lower output to a deterioration in demand conditions, in part a reflection of global uncertainty and economic disruption due to the Middle East war.
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