Austrália PMI Industrial

The Judo Bank Australia Manufacturing PMI was reported at 49.4 in November, from 47.3 in October, remaining in contraction for the 10th month, although the pace of decline softened to its slowest in six months. New orders continued to fall, contributing to weaker business activity, while manufacturing output extended its two-year streak of monthly declines. However, export orders saw a slight uptick, offering some relief to the sector. Input price pressures eased, with manufacturing cost inflation reaching its lowest level since June 2023. Firms reported reduced costs for materials such as grains and aluminum, while output price inflation also slowed, reflecting a softer pace of cost pass-through to customers. Despite the challenges, backlogs of work decreased at a faster rate, suggesting less strain on business capacity. This softer contraction in manufacturing activity was accompanied by slower job creation.