Australia - AIG Performance of Manufacturing index for December
'Key findings':
- 6th consecutive month above 50 points (net expansion)
- The longest unbroken run of expansion since 2010
- Of the seven activity sub-indexes in December, new orders (55.3 points) and exports (54.9 points) were strongly positive, which augurs well for further expansion in 2016. Stocks (48.5 points) and deliveries (46.1 points) were under 50 points and indicating contraction, possibly indicating a drive to reduce stock-related holding costs over the summer break
- Five of the eight manufacturing sub-sectors expanded in December, the same number as in November. Textiles clothing and other manufacturing slipped just under 50 points while printing and recorded media moved up to 50.9 points. Positive trends identified by manufacturers in December included: the low dollar supporting exports and local orders; better local confidence; and stronger demand for manufactured inputs for house building, rail projects, food processing, dairy production and healthcare
- These positive trends were offset in other manufacturing sectors by slowing automotive production, mining projects, Government infrastructure projects and agricultural machinery orders (other than dairy) due to the worsening drought. Rising energy and waste disposal costs were identified by some respondents as re-emerging problems
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The Australian PMIs tend not to me large FX market moving data points. AUD barely moving, its around 0.7293
