Australia Manufacturing PMI

Last Release

Mar 31, 2024

Actual

47.3

Units In

Points

47.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
63.2 Jun 2021	-17.1 Jan 2023	50.47 Points	1992-2024	Australian Industry Group

Ai Group Manufacturing PMI Index measures the performance of the manufacturing sector and is derived from a survey of 200 industrial companies. It is composite index based on the diffusion indices for production, new orders, deliveries, inventories and employment with varying weights. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Latest Updates

The Judo Bank Flash Australia Manufacturing PMI for March fell to 47.3 from 47.8 in the previous month, final readings showed. It pointed to the second successive monthly deterioration in the manufacturing sector, shrinking at the fastest pace since May 2020 as new work inflows declined due to high interest rates and weak economic conditions. Export orders also decreased, but at a slower rate. This led to lower output and a reduction in employment levels, with job shedding at its fastest pace since June 2020. Manufacturers reduced purchasing activity, resulting in a decline in stocks. Despite this, post-production inventories eased as manufacturers were cautious about holding excess stock. Vendor performance deteriorated due to external disruptions. Input costs continued to rise, driven by higher raw material and transport costs, although the rate of inflation slowed. Selling prices increased at a slower pace, with both input and output price inflation below their averages.