FLAU - Australia's June manufacturing PMI contracts most since May 2020 to 47.2
2024-07-01 03:22:20 ET
- The Judo Bank Australia Manufacturing PMI dropped to 47.2 in June 2024 from 49.7 in May, marking the fifth consecutive monthly deterioration in manufacturing sector conditions and at the fastest pace since May 2020, final data showed.
- Manufacturing production contracted in June amid fewer new orders placed with Australian goods producers, leading to production falling at the fastest pace in three months.
- Investors now look ahead to the latest policy meeting minutes from the Reserve Bank of Australia this week to assess the monetary policy outlook.
- The S&P/ASX 200 Index fell 0.22% to close at 7,751 on Monday, extending last week’s decline and tracking losses on Wall Street Friday
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