S&P GLOBAL MARKET INTELLIGENCE senior economist Jingyi Pan says the latest S&P
Global Australia manufacturing PMI shows conditions deteriorated again at the
end of Q3. New orders fell again, signalling demand has not stabilised despite
improvements earlier in the quarter. The decline in new orders drove a sharper
contraction in output and lower purchasing by goods producers. Manufacturing
employment fell in September, the first decline in five months, alongside
weakening business confidence. While inflationary pressures eased in September,
producers still face elevated cost pressures and worsening supply conditions,
leaving operating conditions strained.
