Australia Manufacturing Sector Picks Up Steam In June - S&P Global
(RTTNews) - The manufacturing sector in Australia continued to expand in June, and at a gaster pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI core of 51.5.
That's up from 50.7 in May and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The headline PMI pointed to a modest monthly improvement in the health of the sector amid increases in employment and stocks of purchases, as well as a further marked lengthening of suppliers' delivery times, the index for which is inverted in the PMI calculation to reflect the fact that longer lead times are typically associated with pressure on capacity due to improving demand.
In contrast, both output and new orders continued to fall in June. New business decreased modestly amid reports from panelists that uncertainty among clients and rising prices had limited demand.
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