The Manufacturing PMI for September has come in at 53.5, this is the final
- preliminary was 53.9
- prior 53.8
The other preliminary readings can be found here
S&P Global / Markit on this manufacturing PMI:
- “The sustained easing in inflationary pressures across the Australian manufacturing sector has been a particularly positive aspect of the latest survey data. Rates of input price and output cost inflation have softened from the survey peaks recorded over the past year, dipping to 19- and 8-month lows, respectively.
- “At the same time, demand conditions have remained firm as signalled by the accelerated growth in new orders. While this could be considered an indication of good health within the Australian manufacturing sector, it also presents upside risks in terms of pricing – especially given the renewed contractions in inventory levels registered in September. At the same time, panel members seem cautious about the future, as signalled by overall business sentiments dipping to the lowest levels since Apil 2020, around the start of the COVID-19 pandemic.”
AUD/USD is trading a little higher, as is NZD/USD. CAD also a touch bid.