Australia Manufacturing Sector Expands In January - S&P Global
2025-01-29
3066
(fxcue news) - The manufacturing sector in Australia moved back up into expansion territory in January, the latest survey from S&P Global revealed on Monday with a PMI score of 50.2.
That's up from 47.8 in December and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
Manufacturing production returned to growth at the start of 2025, with firms working through existing orders. The rate of output growth was marginal but nevertheless marked the first rise in production since November 2022.
Meanwhile the rate of new order contraction eased in January, decelerating to the softest in nearly two years. While weak underlying demand and reduced client spending negatively affected new orders, some firms reported signs of market improvement. Export orders continued to fall at a solid rate, however, dampened by subdued business conditions overseas and trade uncertainties.
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