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Australian PMI: Manufacturing loses momentum in June
■ Activity across the manufacturing industry fell sharply in June, following a brief expansion in May. The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI) dropped by 8.1 points to 44.2 points this month (reading above 50 points indicate expansion), the lowest reading since July 2013 (seasonally adjusted). ■ The Australian PMI typically 'leads' ABS data for manufacturing output by around 3 months. Recent results from the Australian PMI suggest output growth in manufacturing (measured as 'value added' by the ABS) is likely to have been flat in Q2 2015, after achieving ... (full story)
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