Or should I say, slow recap – my attention being taken up with looking at the implications of the BOJ Tankan results.
- Australia – AIG manufacturing PMI for September: 51.7 (vs. 46.4 prior)
Remember how many were calling for a boost in Australian confidence levels after the election? I reckon that might have a lot to do with the Australian manufacturing PMI moving into expansionary territory for the first time in over two years. I’m not discounting the lower AUD and low interest rates, they’ll have played a part too.
Strong rises in:
- new orders
- deliveries
Improvement in:
- production
- employment
This sort of result makes the chances of an RBA rate cut more distant (ps. there’s an RBA meeting today, but expect no change in rates)
