Australia’s manufacturing PMI falls 48.2, lowest four months
The Judo Bank Flash Australia Manufacturing PMI fell to 48.2 in September 2023, from 49.6 in the previous month, flash estimates showed. It pointed to the lowest reading in 4 months, indicating continued deteriorating business conditions across the sector.
A sharper fall in new orders led to manufacturing output shrinking for a tenth straight month in September.
The Judo Bank Australia Services PMI increased to 50.5 in September 2023, from 49.6 a month earlier, a preliminary estimate showed. It pointed to the highest reading since May as incoming new business, including new business from abroad, increased in September, contributing to higher services activity. In turn, firms raised their employment levels at a faster rate.
The Judo Bank Australia Composite PMI went up to 50.2 in September 2023 from 48 in the previous month, flash estimates showed.