The CBA/Markit Manufacturing PMI for June (final) 51.2
- Australian manufacturing conditions showed some modest improvement in June, according to the headline PMI figure, as the country relaxed its lockdown measures.
- The survey indicated a marked easing in the rates of decline in both production and new orders while confidence rose to a 16-month high on hopes of a further improvement in the coming months.
- However, firms were reluctant to invest in new capacity, and instead reduced employment and input purchasing in June to contain costs.
more to come