Australian Manufacturing PMI February Final 50.4 (prior was 50.2)

S&P Global Australian FINAL Manufacturing PMI for February 2025

50.4, highest level in two years

• preliminary was 50.6
• prior was 50.2

Commentary from the report, bolding is mine:

• “February’s Australian Manufacturing PMI data showed that business conditions in the goods producing sector continued to improve.
• Forward-looking indicators, including a renewed rise in new orders and the highest future output reading seen in nearly three years, further provided positive signals for output growth in the coming months.
• “While current production fell in February, this is largely a reflection of continued excess capacity in the early stages of demand recovery. This is likewise the reason for a marginal decline in employment levels and a sustained downturn in purchasing activity. It will be important to see further increase in new sales to help drive future output and employment growth in the goods producing sector.
• “Price pressures eased in the latest survey period with input prices notably rising at a pace below the long-run average in February, thereby supporting the softening of output price inflation. The continuation of an easing inflation trend will be important to help support improvements in demand over the coming months.”