The Australian Industry Group's Performance of Manufacturing Index was released earlier, moving into expanison.
Markit PMIs out now also:
- manufacturing 57.0
- services will be out in 2 days
- composite will also be published in 2 days
Commentary from the report:
- “The latest IHS Markit Australia Manufacturing PMI indicated that the sector’s expansion accelerated, aided by the renewal of manufacturing production growth in February. The easing of the COVID-19 Omicron wave had similarly minimised the disruptions towards production, leading to the positive change in February.
- “That said, supply chain issues persisted, with the severe lengthening of delivery times leading to price inflation climbing in February. Wage inflation will be a key area to watch as manufacturers continued to hire at a rapid pace while facing challenges in securing suitable candidates.
- “Overall business optimism improved in February, which is a positive sign for the Australian manufacturing sector.”
IHS Markit release preliminary readings for these, which can be found here, along with the January results: Australian flash PMIs