Australian Industry Group Manufacturing PMI for April 61.7, up 1.8 points on the month and to its 3rd highest ever reading
- highest since March 2018
- seventh consecutive month of recovery
- all six manufacturing sectors expanded
- all seven activity indicators expanded
- capacity utilisation index hit a record high (indicating that employment and/or investment may need to step up in order to facilitate further growth from here)
- Australian manufacturers continue to report concerns about supply chain difficulties including delivery delays and freight pricing. High and/or rising prices for various raw materials is also of concern, due to high global commodity prices for metals, oil and other key inputs.
Goldman Sachs graph:
