The second of the April manufacturing PMIs from Australia

Earlier:

Markit / CBA key points:

  • April saw the worst deterioration in Australian manufacturing conditions in four years of data collection, with output and new orders falling at new record rates as stricter COVID-19 measures weighed on the economy.
  • The downturn in sales led firms to cut back on both purchasing activity and inventories.
  • Hiring was also reduced sharply while business sentiment dropped to a record low.
  • Meanwhile supply chains came under greater pressure, contributing to a sharp rise in input costs.