The data is for November, not October. This data from AiG used to be a focus but the S&P Global PMIs are now more closely watched.
Key points from the report:
- The Ai Group Australian Industry Index sank deeper into contraction in November on the back of falling demand and activity.
- The activity/sales, new orders and input volumes indicators all materially fell in the month. Employment increased marginally.
- November is the lowest Aii reading since June 2020. On a trend basis, all four activity indicators point to contractionary conditions.
Upstream manufacturers showed improvement, but consumer facing industries (food and construction) posted large declines.
- November saw a modest increase in input costs, but a decline in sales price and average wage indicators.
Coming up today is GDP data for Q3, expected to have slipped back from the Q2 reading:
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