Australia preliminary June PMI: Manufacturing 47.5 (prior 49.7) Services 51.0 (prior 52.5) ...Middle East

Preliminary Judo Bank S&P Australian Manufacturing PMI 47.5prior 49.7Services 51.0prior 52.5Composite 50.5prior 52.1Wow, what an awful set of numbers. Early 2024 was promising but that's fallen in a heap now. Warren Hogan, Chief Economic Advisor at Judo Bank this in brief on the employment and inflation aspects: “The composite employment index was down but remains comfortably above neutral, suggesting ongoing labour demand in June.“The composite input price index fell below the 60 level for the first time since January 2021, a sign that business cost growth might be easing. Hopefully, we are seeing the start of a genuine moderation in business cost growth. This is essential to reducing infla

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