Recovery looks in sight for Australia's manufacturing sector

Australia's manufacturing sector looks like it is on the path to recovery. (Image: Bloomberg)

Mon, 03 Jun 2024

James GlynnActivity in Australia’s manufacturing sectors could be entering a recovery phase, with firms reporting ongoing demand for labour and cost pressures reaching their highest level for years.The headline seasonally adjusted Judo Bank Australia manufacturing purchasing managers index (PMI) rose to 49.7 in May, up from 49.6 in April. A reading above 50 indicates an expansion in manufacturing activity, while a reading below that indicates a contraction.The sector’s key activity indicators continued to improve through May, sugges...

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