Australia manufacturing for November from AIG (result posted here earlier)

Comes in showing a big drop, to 51.3

  • lowest since October of 2017
  • 26 months of expansion for this indicator (longest run since 2005)
  • from October at 58.3

Not a good result at all. Yes, still in expansion, but a big fall from previous is a concern.

AIG comments:

  • Manufacturers reported expanding, albeit slowing conditions in November led by the non-metallic minerals sector and the large food & beverages sector.
  • Manufacturing conditions were stronger in Victoria and South Australia but fell into contraction in New South Wales and Queensland.

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ps., still to come is a second PMI, this time from CBA / Markit manufacturing for November

  • October was 54.5
  • The preliminary reading for the November result was also 54.5