FOREX TradingCharts.com

Financial News: Australia Manufacturing Sector Slows In May - S&P

Australia Manufacturing Sector Slows In May - S&P Global

05/23/2022 - 20:42:00 (RTTNews)

(RTTNews) - The manufacturing sector in Australia continued to expand in May, albeit at a slower pace, the latest survey from S&P Global showed on Tuesday with a manufacturing PMI score of 55.3.

That's down from 58.8 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

This marked the twenty-fourth successive month in which conditions in the manufacturing sector strengthened, though at the slowest pace in four months.

Manufacturing production contracted in May following three months of growth with panelists linking the slowdown to flooding and COVID-19 related labor and supply News Release shortages. That said, new orders continued to expand, driving higher levels of employment and purchasing activity. Manufacturers also reported increasing their stocks of purchases to mitigate against price fluctuations and delays.

The survey also showed that the services PMI fell to 53.0 in May from 56.6 in April, while the composite PMI slipped to 52.5 from 55.9.

The easing of COVID-19 restrictions continued to support the expansions of new orders and business activity in May, though poor weather conditions and higher interest rates were blamed for the growth slowdown. New export business expanded for the third straight month following the easing of border restrictions.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Trade Data Due On Thursday (08 min(s), 23 sec(s) ago)
(RTTNews) - Australia will on Thursday release May figures for imports, exports and trade balance, ...Full Story»

Romania Central Bank Raises Key Rate Further (07 hr(s), 20 min(s), 23 sec(s) ago)
(RTTNews) - Romania's central bank raised its monetary policy rate more than expected on Wedne ...Full Story»

Egypt Non-Oil Private Sector Activity At 2-Year Low (09 hr(s), 11 min(s), 23 sec(s) ago)
(RTTNews) - Egypt's non-oil private sector activity deteriorated at the fastest pace in two ye ...Full Story»

Ireland Jobless Rate Rises Slightly In June (09 hr(s), 21 min(s), 23 sec(s) ago)
(RTTNews) - Ireland's unemployment rate increased marginally in June, after falling in the pre ...Full Story»

Taiwan Inflation Highest Since August 2008 (09 hr(s), 54 min(s), 23 sec(s) ago)
(RTTNews) - Taiwan's consumer price inflation accelerated at a faster-than-expected pace in Ju ...Full Story»

Malaysia Central Bank Hikes Rate Again By 25 Bps (10 hr(s), 21 min(s), 23 sec(s) ago)
(RTTNews) - Malaysia's central bank raised its key interest rate by a quarter-point for the se ...Full Story»

Hungary Industrial Output Growth At 6-Month Low; Retail Sales Grow Strongly (10 hr(s), 38 min(s), 23 sec(s) ago)
(RTTNews) - Hungary's industrial production expanded at the weakest pace in six months in May, ...Full Story»

Eurozone Retail Sales Rebound Less Than Forecast (11 hr(s), 58 min(s), 23 sec(s) ago)
(RTTNews) - Eurozone retail trade recovered at a slower-than-expected pace in May, figures from Eu ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Trade Data Due On Thursday

07/06/2022 - 18:00 PM (RTTNews)
(RTTNews) - Australia will on Thursday release May figures for imports, exports and trade balance, ...Full Story>>

Romania Central Bank Raises Key Rate Further

07/06/2022 - 10:48 AM (RTTNews)
(RTTNews) - Romania's central bank raised its monetary policy rate more than expected on Wedne ...Full Story>>

Egypt Non-Oil Private Sector Activity At 2-Year Low

07/06/2022 - 08:57 AM (RTTNews)
(RTTNews) - Egypt's non-oil private sector activity deteriorated at the fastest pace in two ye ...Full Story>>

Ireland Jobless Rate Rises Slightly In June

07/06/2022 - 08:47 AM (RTTNews)
(RTTNews) - Ireland's unemployment rate increased marginally in June, after falling in the pre ...Full Story>>

Taiwan Inflation Highest Since August 2008

07/06/2022 - 08:14 AM (RTTNews)
(RTTNews) - Taiwan's consumer price inflation accelerated at a faster-than-expected pace in Ju ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.