The manufacturing sector in Australia continued to expand in September, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 51.4.
That’s down from 51.6 in August, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Incoming new orders fell slightly for the first time since June. This was attributed to subdued market conditions, according to panelists. Foreign demand has similarly deteriorated, with panelists often reporting that US tariffs not only dampened new orders from US clients but also from other major trading partners. This came after new export orders rose for the first time in three months in August.
As a result of falling demand, manufacturing production growth slowed in September. Australian goods producers reported working on existing orders, clearing their outstanding work at a quicker pace compared to August.
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