S&P Global / Markit Manufacturing PMI from Australia for October.
Comments from Markit:
- The latest Australian Manufacturing PMI reflected
continued expansion at the start of the fourth quarter,
though the rate of growth slowed from September.
Foreign demand for Australian manufactured goods
notably saw growth slow to almost a halt in the latest
survey.
Positively, suppliers’ delivery times lengthened at
the slowest rate since before the COVID-19 pandemic
hit while prices also increased to the weakest degree
since early 2021. This suggested the easing of these
manufacturing sector constraints, although there
remained some reports that purchasing activity
remained mildly affected by supply issues.
Business sentiment meanwhile showed signs of a
turnaround with the uplift in business confidence from
the September low, which was a positive sign for sector
growth in the near-term.
--
AUD/USD is little changed on the data release.