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Australian PMI: Manufacturing consolidates in May
The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI® ) fell 2.4 points to 51.0 points in May, indicating stable to moderately expanding manufacturing activity in the month (results above 50 points indicate expansion). § The May result consolidates several months of strong activity and continues the longest unbroken period of growth for the Australian PMI® since September 2006. § The lift in the Australian dollar in early 2016 is likely contributing to some of this cooling in growth. Since the RBA rate cut in early May however, the Australian dollar has given up much of its ... (full story)