Australia June Flash Manufacturing PMI Rises to 51.2, Services Improve but Still in Contraction
Australia's June flash manufacturing PMI rose to 51.2 from 50.7, indicating expansion. Services PMI improved to 49.9 but remained below the 50 threshold, signaling ongoing contraction.
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The June flash manufacturing PMI for Australia increased to 51.2, up from 50.7 in the previous month, pointing to a further expansion in factory activity and improving industrial momentum.
Services PMI edged higher to 49.9 from a prior reading, while the composite PMI came in at 49.8. Both remain below the 50.0 mark, indicating the broader economy is still contracting, albeit at a slower pace.
Source: First Squawk