-
Australian PMI: Manufacturing stabilises in July
Activity across the Australian manufacturing sector stabilised in July, after contracting in June, with the Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) recovering 6.2 points to 50.4 (readings above 50 indicate expansion in activity, the distance from 50 indicating the strength of the increase). Four of the seven activity sub-indexes expanded in July. Manufacturing sales (up 12.9 points to 53.9) expanded for the first time in 14 months, while production (up 10.6 points to 54.2) and supplier deliveries (up 6.3 points to 50.6) reversed sharp declines in June to return to ... (full story)