Australia Flash Manufacturing PMI 52.9 vs 51.3 Prior

Australia Flash Manufacturing PMI 52.9 vs 51.3 Prior

Australia Flash Services PMI 55.1 vs 53.8 Prior

Australia Flash Composite PMI 54.9 vs 53.6 Prior

• Composite PMI: 54.9 (Jul 53.8), highest since Apr 2022

• Services PMI: 55.1 (Jul 54.1), strongest in 40 months

• Manufacturing PMI: 52.9 (Jul 51.3)

• Manufacturing output: 53.9 (Jul 52.3)

• Drivers: Stronger new orders and exports, best export growth in 6 months with demand from US, Europe and APAC

• Employment: Services hiring up, fastest since Apr 2023; manufacturing jobs slightly down, first fall since Feb

• Backlogs: Capacity gains stabilized outstanding work after 3 months of backlog clearance

• Prices: Input and output price inflation eased, still rising but at softer pace

• Sentiment: Improved, manufacturers most upbeat since Apr 2022 expecting better conditions and expansion

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