The IHS Markit Australia Manufacturing PMI was revised slightly higher to 56.9 in July of 2021 from a preliminary of 56.8, still lower than 58.6 in June. The reading pointed to the slowest growth in factory activity in 4 months amid disruptions from a resurgence of COVID-19 cases and sustained supply constraints. The rate of growth for both demand and production eased further in July as COVID-19 lockdowns affected a greater number of Australian states. Production issues played a part as well with longer suppliers’ delivery times and a shortage of labour, all while firms faced intensifying price pressures. Overall Australian manufacturers remained optimistic with regards to the outlook for the sector, though the degree of optimism was taken a notch lower by the uncertainty surrounding the latest rise in COVID-19 cases. source: Markit Economics
Industrial Sentiment in Australia averaged 53.85 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 August of 2021.
Industrial Sentiment in Australia is expected to be 60.00 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 2022, according to our econometric models.