The headline seasonally adjusted Judo Bank Australia Manufacturing Purchasing Manager's Index came in at 48.0 for April, down from 49.1 for March. It was the first back-to-back slowdown in activity since the start of the Covid-19 pandemic in early 2020. The data, released Monday, points to a deepening downturn in the manufacturing sector, as new orders fell at one of the fastest rates in the seven-year survey history. Output price inflation also moderated, Judo Bank added. Input price inflation slowed notably to a 33-month low, Judo Bank said.

Source: Wall Street Journal May 01, 2023 00:43 UTC