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CBA/Markit Australian Manufacturing PMI for June: 52.0 (prior 51.0)

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The earlier manufacturing PMI dropped hard, back into contraction.

This one, though, an improvement!

Report ‘key points’:

  • Australia’s manufacturing sector finished off the second quarter on a stronger note, according to latest survey data. Faster expansions in both production and new orders lifted the headline index which, in turn, encouraged firms to boost hiring and raise purchasing activity. 
  • Supply chains remained under pressure and backlogs accumulated while business confidence headed higher. However, inflationary pressures moderated further

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