Ultima Markets[Market Hotspot] Australian manufacturing industry remains sluggish, but only...

Australian manufacturing industry is not showing signs of improvement，PMISee the lowest point in six months

Preliminary statistics show that,2023year10monthJudo Bank FlashAustralian manufacturing industryPMIFrom last month's48.7 Descend to48Business activities have been continuously conducted for the first time8The monthly decline is also the lowest data in half a year, mainly due to weak demand leading to a decrease in production and a decrease in new orders.

Due to the inflation pressure reaching7The peak not seen in the past month has led to a significant surge in investment costs. The constantly rising fuel costs have become one of the main factors causing price pressure. Although output prices have also increased, the increase is relatively slow.

Due to the deteriorating market conditions, business confidence has fallen to its lowest point in three and a half years. It is encouraging that the employment level continues to grow, creating a three-year growth period of employment opportunities.

(Judo Bank Australian manufacturing industryPMIS&P Global)

Australia IntegratedPMIContinuous contraction trend

According to the preliminary investigation results,Judo Bank Flash Australia IntegratedPMIFrom last month's51.5lower 2023 year10Of 47.3The number is21The lowest observed value within a month is due to a significant decline in the performance of private operations in Australia. The downturn in business activities stems from a decrease in new orders, unfavorable demand environment, increased inflationary pressure, and rising interest rates.

The volume of new export business has decreased for the eighth consecutive month. Stimulated by inflation reaching a three-month high, input costs continue to rise rapidly. Despite the weakening of customer demand putting pressure on pricing power, output prices still rise at a rate of2021year3The lowest since the beginning of the month.

(The Judo Bank Australia Integrated PMIS&P Global)

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