Australia Manufacturing PMI Slows To 56.9 In July - Markit

The manufacturing sector in Australia continued to expand in July, albeit at a slower pace, the latest survey from Markit Economics showed on Monday with a manufacturing PMI score of 56.9.

That's down from 58.6 in June, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Manufacturing output and new orders both increased for the thirteenth successive month in July but rates of growth declined, in line with the headline PMI index.

Firms cited COVID-19 related disruptions having caused the growth pace to moderate, though some firms also experienced an increase in demand as clients substituted Australian manufactured goods for foreign imports amid the disruptions. Volume of new work from abroad however fell after four months of growth.

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