Highlights from the report:
Production expands at fastest pace since April 2022The quickest rise in new orders in almost three years Stocks of purchases record sharpest growth since June 2022More:
PMI rose to 53.0 in August (up from 51.3 in July), marking the fastest improvement since September 2022 Production and new orders increased solidly, with exports returning to growth for the first time since May Employment expanded for the sixth consecutive month as manufacturers hired additional staff to handle rising workloads Inventory levels rose at the fastest pace in 38-46 months as companies built safety stock amid supply delays Business confidence soared to the highest level since February 2022, with firms optimistic about new products and economic conditionsThis data point tends not to move markets too much at all. AUD/USD is around 0.6543 and little changed.
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