Judo Bank / S&P Global for September 2024
46.7
prior 48.7flash was 46.7
In summary from the report:
Manufacturing sector weakened to cyclical lows through September.Demand is soft, with elevated business cost pressures.Manufacturing PMI index at lowest since 2016, excluding the pandemic start.Output and new orders are significantly below the neutral level of 50.Sector has been in contraction for eight months, with reduced employment (index averaging 47.9).Input and output price pressures back to pre-pandemic averages, but margin pressures remain significant.Supply chain issues persist, with delivery times below pre-pandemic levels for three months.Business expectations for the next 12 months remain optimistic but below pre-pandemic averages.Challenging conditions in late 2024, influenced by weak construction activity and soft consumer markets.Some improvement may come from household stimulus and population growth, but overall conditions remain subdued.
This article was written by Eamonn Sheridan at www.forexlive.com.
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