- Still in expansion but down on April and down on preliminary
The preliminary for this was better, its here:
- Australian S&P Global Manufacturing PMI Flash reading for May 2025: 51.7 (prior 51.7)
Comes in at 51.0
- prelim was 51.7, prior also 51.7
Production shrinks for the first time in three months
- New orders rise at weaker pace
- Stocks of purchases decline as buying activity falls
Commentary from the report is upbeat regardless
“May’s Australia Manufacturing PMI data revealed that the goods producing sector continued to expand.
- Despite a moderation in the pace of growth, anecdotal evidence suggested that the slower rate of expansion, including a slight reduction in output, was partially driven by the election and may therefore prove temporary.
- Indeed, forward-looking indicators provided signs that output may increase in the coming months with renewed export order growth, and the first recorded lift to business confidence since February.
- Employment gains also continued at a solid pace as firms showed willingness to backfill previously lost roles to support operations.
- “On the price front, easing inflation in May also represented a positive development for demand growth in the coming months, with cost pressures among the lowest in over a year.”
