Australia - CBA/Markit Manufacturing PMI for September (final) 55.4

Author: Eamonn Sheridan | Category: News

CBA/Markit Manufacturing PMI 55.4  is more encouraging than the earlier PMI from Australia today:

CBA's survey coming in at 55.4, final, for the mo nth. 

IHS Markit: 
  • "Latest PMI data showed the recovery in Australian manufacturing sector gaining pace in September, with output and sales increasing solidly. Other survey indicators suggest that the upturn has further room to continue. 
  • "A renewed increase in backlogs of work, which reflected rising capacity pressure, led firms to expand their workforce numbers for the first time since late 2019. Purchasing activity was also up for a third straight month to meet higher production requirements. 
  • "Business confidence consequently improved further, with optimism at its strongest for nearly one-and-a-half years, amid rising expectations of a sustained recovery from the pandemic. 
  • "The survey also highlighted the severe pressure on supply chains due to limited freight capacity globally and import restrictions at home. The reduced availability of inputs may therefore limit output growth in the coming months even if demand continues to rise."

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