Decline in Australia Manufacturing PMI Signals Economic Pressure

Monday, 1 July 2024, 07:22
The Judo Bank Australia Manufacturing PMI decreased to 47.2 in June 2024, the largest drop since May 2020. This marks the fifth straight month of weakening conditions in the manufacturing sector. The decline indicates increased economic pressure and potential challenges ahead for the Australian economy.
Seeking Alpha
Decline in Australia Manufacturing PMI Signals Economic Pressure

Australia Manufacturing PMI Report

The Judo Bank Australia Manufacturing PMI fell to 47.2 in June 2024 from 49.7 in May, highlighting a downward trend in sector performance.

Key Findings:

  • Decrease to 47.2, the most significant decline since May 2020
  • Continued deterioration for five consecutive months

The data suggests growing economic challenges and uncertainties that may impact future growth prospects.

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