Australian manufacturing PMI for May (2nd one) 55.7 (prelim 55.3)

S&P Global / Markit Economics Manufacturing PMI (May)

The flash result is here:

• Australia preliminary PMIs for May: Manufacturing 55.3 (prior 57.9) Services 53.0 (56.6)

From the report - supply chain issues and cost pressures are familiar themese. There are indications price pressures are falling though:

“Australia’s manufacturing sector continued to expand at a solid, but slower, rate according to the latest S&P Global Australia Manufacturing PMI. Manufacturing production growth eased to a marginal level midway into the second quarter. That said, supply issues were largely blamed for the slowdown and the sustained strong growth in new orders presented a comforting sign.

“Price pressures persisted for Australian manufacturers, though indications that price inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term have started to ease suggest we may have already seen a peak. The trend here will be worth monitoring moving forward.

“Business sentiment in the Australian manufacturing sector remained positive, but overall confidence declined again with concerns over costs and supply side constraints, issues that have the potential to limit future output.”

Earlier:

• Australian Manufacturing PMI for May 52.4 (prior 58.5)