Judo Bank flash PMI has rolled again:
Flash Australia Composite PMI Output Index: 50.6 (May: 52.1), 5-month low
Flash Australia Services PMI Business Activity Index: 51.0 (May: 52.5), 5-month low
Flash Australia Manufacturing PMI Output Index: 47.7 (May: 49.2), 3-month low
Flash Australia Manufacturing PMI: 47.5 (May: 49.7), 3-month low
Warren Hogan is still glass half full:
“New orders also pulled back and are below the 50 neutral level in June, indicative of weakening demand in the final month of the financial year.
“The composite employment index was down but remains comfortably above neutral, suggesting ongoing labour demand in June.
“The various activity indicators suggest a slower pace of business expansion in the Australian economy in June after a very strong period over the first half of calendar year 2024.
Still, progress for the RBA.
