The IHS Markit Australia Manufacturing PMI was revised higher to 57.7 in November of 2021 from a preliminary of 57.4, and decreasing to a three-month low. Despite the decrease, it remained above 50 and still points to a growth in the manufacturing sector, the nineteenth in a row. Demand and output rose at slower rates, as did purchasing activity. However, the rate of job creation was unchanged. Supply constraints persisted, with longer lead times recorded, contributing to higher backlogged orders. Price pressures meanwhile climbed to a record level, though Australian manufacturers continued to hold a positive outlook. Still, overall sentiment remained positive amongst Australian manufacturers with hopes of continued growth, although the level of business confidence has slipped from the recorded in November as concerns over supply issues and prices trends mounted. source: Markit Economics
Industrial Sentiment in Australia averaged 54.08 points from 2016 until 2021, reaching an all time high of 60.40 points in May of 2021 and a record low of 44 points in May of 2020. This page provides - Australia Commonwealth Bank Manufacturing PMI- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Markit Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
Industrial Sentiment in Australia is expected to be 56.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Markit Manufacturing PMI is projected to trend around 54.50 points in 2023, according to our econometric models.