Australia Manufacturing PMI Slows To 54.2 In October – IHS Markit

(RTTNews) – The manufacturing sector in Australia continued to expand in October, albeit at a slower pace, the latest survey from IHS Markit revealed on Monday with a manufacturing PMI score of 54.2.

That’s down from 55.4 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, there were slower increases in output and new orders, while employment fell back into decline and supply chains remained under pressure.

Demand for manufacturing inputs remained solid, with purchasing activity rising for a fourth month running and at the fastest pace since July.