Australia Manufacturing Sector Accelerates In March - S&P Global

RTTNews | 22 days ago
Australia Manufacturing Sector Accelerates In March - S&P Global

(RTTNews) - The manufacturing sector in Australia continued to expand in March, and at a faster pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 52.1.

That's up from 50.4 in February and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Contributing to the increase in the headline index was manufacturing production, which also expanded at the most pronounced pace since October 2022. The latest acceleration in output growth was driven by rising new business inflows and increased capacity. Australian manufacturers reported receiving new orders at the fastest rate in 28 months.

Better domestic economic conditions, marketing promotions and client restocking underpinned the growth in new work, according to panelists. However, firms reported a renewed fall in export orders, reflective of subdued external conditions.

read more
Australia Employment Rebounds In Q1

Australia Employment Rebounds In Q1

Australia's employment rebounded in the first quarter and the jobless rate rose only slightly, suggesting that the labor market remained resilient, data from the Australian Bureau of Statistics showed Thursday. The unemployment rate rose to 4.1 percent from downwardly revised 4.0 percent in the December quarter. The rate was expected to advance to 4.2 percent.
RTTNews | 5 days ago
RBA Minutes Say May Meeting Is

RBA Minutes Say May Meeting Is "Opportune" Time To Revisit Policy Setting

Policymakers of the Reserve Bank of Australia said it is important to remain alert to the evolving balance of risks and concluded that the May meeting would be an opportune time to revisit the monetary policy setting, the minutes of the April meeting showed on Tuesday. Members judged that it was not appropriate at this stage for monetary policy to react to the potential risks that could move out
RTTNews | 7 days ago
Australia Westpac Consumer Sentiment At 6-Month Low

Australia Westpac Consumer Sentiment At 6-Month Low

Australia consumer sentiment deteriorated to a six-month low in April on escalating tariff war, survey data from Westpac showed Tuesday. The Westpac-Melbourne Institute Consumer Sentiment Index fell to 90.1 in April from 95.9 in March. The 'family finances vs a year ago' sub-index registered a sharp 8.5 percent fall to 70.2 in April.
RTTNews | 14 days ago
Australia Westpac Consumer Sentiment At 6-Month Low

Australia Westpac Consumer Sentiment At 6-Month Low

Australia consumer sentiment deteriorated to a six-month low in April on escalating tariff war, survey data from Westpac showed Tuesday. The Westpac-Melbourne Institute Consumer Sentiment Index fell to 90.1 in April from 95.9 in March. The 'family finances vs a year ago' sub-index registered a sharp 8.5 percent fall to 70.2 in April.
RTTNews | 14 days ago
Australia Keeps Key Rate Unchanged As Expected

Australia Keeps Key Rate Unchanged As Expected

The Reserve Bank of Australia left its benchmark rate unchanged, as widely expected, but cautioned about pronounced geopolitical uncertainties. The policy board of the RBA, governed by Michele Bullock, decided to maintain the cash rate target at 4.10 percent. In February, the bank had reduced the rate by 25 basis points, which was the first cut since 2020.
RTTNews | 21 days ago
Australia Retail Sales Rise 0.2% In February

Australia Retail Sales Rise 0.2% In February

The value of retail sales in Australia was up a seasonally adjusted 0.2 percent on month in February, the Australian Bureau of Statistics said on Tuesday - coming in at A$37.129 billion.
RTTNews | 21 days ago