The second of Australia's manufacturing PMIs for the month.
- Comes in at 49.7, from the previous month reading of 50.2
The key points highlighted in the report:
- Australian manufacturing conditions deteriorated in March, led by record falls in output and new orders as COVID-19 hit the economy. Reports of production halts saw firms cut back on hiring, purchasing activity and inventories. Business confidence fell to the lowest on record. Supply chains came under great pressure amid import restrictions and other anti-virus measures. Supply shortages and a weaker Australian dollar led to a surge in input costs, accompanied by a rise in selling prices.
Earlier:
