Via IHS Markit:
Growth of Australia’s manufacturing sector slowed in December, according to the latest IHS Markit PMI™ data. 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.
The seasonally adjusted IHS Markit Manufacturing Purchasing Managers’ Index™ (PMI®) posted above the 50.0 no-change mark at 57.7 in December, down from 59.2 in November, to signal an expansion of the Australian manufacturing sector. This marks the nineteenth straight month in which the sector grew, though the rate of growth slowed to a three-month low.
