Australian final manufacturing PMI for June plunges further into contraction @ 47.2 ...Middle East

The final June reading is 47.2, the lowest in 3 months and the fifth month in a row in contractionthe preliminary was 47.5May was 49.7Some of the comments from the report:manufacturing sector's key activity indicators have softened to the cyclical lows seen earlier in the yearManufacturers are marginally scaling back production through reduced headcounts and inventories in response to prolonged difficult trading conditions in the sectoremployment index dipped back below the neutral level. Manufacturers, on average, have been gradually reducing headcounts throughout 2024margin pressures in the manufacturing sector appear to be picking up. The input price index climbed significantly to 58.4 in

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