Australian Industry Group Performance of Manufacturing Index for January

52.5

  • prior revised to 50

I don't recall having seen a revision to the prior before, first time for everything I guess.

On the face of it a good improvement in the January result. The trend doesn't look great right now though:

Australian Industry Group comments:

  • signals a very mild recovery in manufacturing conditions in January 2019, following a flat month in December 2018
  • Despite this month's improvement, the Australian PMI® continues to decelerate since reaching a recent peak in March 2018
  • Six of the seven activity indexes in the Australian PMI® indicated expansion in January (i.e. above 50 points), but on average, they have been trending down since Q3 2018
  • Export orders seem to be improving mildly again after a lull in late 2018.
  • Three of the six sectors in the Australian PMI® expanded in January 2019, two were stable and one contracted (trend).

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Still to come:

CBA / Markit manufacturing PMI for January

  • preliminary for January was 54.3
  • prior was 54.0