iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Economic Buzz: Australia Manufacturing PMI Eases To 55.3 In January

24 Jan 2022 , 08:49 AM

Australia manufacturing sector continued to expand in January with a manufacturing PMI score of 55.3, the latest survey from Markit Economics revealed on Monday. Thats down from 57.7 in December, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. New order growth eased at the start of the year while manufacturing output slipped into contraction for the first time in five months. Although demand persisted in growth, Australian manufacturers reported a slowdown in production, affected by the shortages of inputs, labor constraints and other COVID-19 disruptions. Suppliers delivery times lengthened at a more severe rate, implicated by the worsening of COVID-19 conditions. This led to firms ramping up their input purchases with intentions of safety stock building. Meanwhile hiring activities decelerated with panelists reporting difficulties in securing labor. The survey also showed that the services PMI tumbled to 45.0 from 55.1 in December, while the composite PMI dropped to 45.3 from 54.9.

Powered by Commodity Insights

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.