There are two manufacturing PMIs due from Australia today. This is the first.

CBA / Markit manufacturing PMI for January comes in at a 4 month low of 55.4

  • prior 57.1

A fall from December and still well into expansionary territory.

Commenting on the Commonwealth Bank Manufacturing PMI data, Michael Blythe, Chief Economist at the Commonwealth Bank:

  • "The Australian manufacturing sector has started 2018 on a healthy note.
  • The headline PMI expanded at a slightly slower pace than in December. But readings for current and future conditions remain strong.
  • New orders from both domestic and offshore sources, for example, are expanding
  • Earlier concerns about capacity constraints remain.
  • The backlog of work continues to rise and delivery times continue to lengthen. The resultant pressures on input costs are filtering through the pricing chain.
  • It seems that demand is strong enough to allow manufacturers to protect margins by lifting output prices".

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Still to come ... another one ...

2230 GMT AiG manufacturing PMI, January

  • prior 56.2

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