Australia - manufacturing PMI for November: 54.2 (prior 50.9)

Australian Industry Group Performance of Manufacturing Index

Up 3.3 points on the month to 54.2, the third rise in a row for the index

• prior 50.9

This PMI (we'll get services and construction PMIs next week) back to its highest since July of this year

6 of the 7 seven subindexes expanded in November

• Solid lift for new orders, sales and exports
• 59.5 points, 53.5 points, 55.9 points respectively

3 of the 8 manufacturing sub-sectors improved in November

• Comments from manufacturers in November indicate a general pickup in demand and confidence, while the relatively lower dollar and increased exports continue to provide momentum to many manufacturers. Weather conditions appear to be impacting manufactures, both directly and through increased raw material prices. Also, some concerns of a slowing economy and a volatile exchange rate are weighting on activity while sourcing affordable, skilled labour and rising input costs (inducing energy prices) are presenting problems for other manufacturers.