S&P Global: Australia manufacturing PMI contracts for 11th month

The seasonally adjusted S&P Global Australia Manufacturing Purchasing Manager’s Index (PMI) dropped to 47.8 in December from 49.4 in November, marking the eleventh consecutive month of declining manufacturing conditions.

“December’s Australia Manufacturing PMI data outlined a further softening of conditions in the goods producing sector. After showing signs of easing in November, the downturn in the manufacturing sector also worsened at the end of the year, reflecting sustained domestic and external pressures on the goods producing sector.” Jingyi Pan, Economics Associate Director at S&P Global Market Intelligence, said.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser