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Financial News: Australia Manufacturing PMI Slips To 55.7 In December

Australia Manufacturing PMI Slips To 55.7 In December

01/03/2021 - 18:15:00 (RTTNews)

(RTTNews) - The manufacturing sector in Australia continued to expand in December, albeit at a slightly slower pace, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 55.7.

That's down marginally from 55.8 in November, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output and new orders continued to accelerate and job growth was at its strongest in more than two years - although supply chains and exports fell under pressure.

Firms cited a combination of worsening trade tensions with China and a further marked deterioration of shipping conditions.

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