Australian PMI: Manufacturing contracts slightly in June
The latest Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) remained in contractionary territory in June, down slightly by 0.3 points to 48.9 points to remain below the 50 point expansion level (seasonally adjusted).
- Only the very large food and beverages (52.5 points) and the smaller wood and paper products (54.2 points) sub-sectors expanded in June
- The large metal products, machinery and equipment, and petroleum, coal, chemicals and rubber products sub-sectors all contracted this month (i.e. below 50 points)
- Manufacturing employment contracted at a slower pace in June - 45.5
- While the supplier deliveries sub-index indicated expansion this month (50.8), manufacturers' stock levels continued to contract with the sub-index recording a level of 44.8
- The selling price sub-index dropped further to 44.8
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