A very ugly result, comes in at 47.8
slumping further from November's awful 49.4and below the flash estimate of 48.2The flash reading for this can be found here:
In summary:
Deterioration in Conditions:
Manufacturing conditions declined at a faster pace in December, marking the 11th consecutive monthly contraction (PMI at 47.8).Faster reductions in overall and export orders contributed to deeper manufacturing output contraction.Economic Drivers:
Elevated interest rates and reduced demand from major export markets (US, Europe, Asia, New Zealand) led to declining new orders.Capacity pressures eased, leading to job shedding and a reduction in outstanding business.Inventory and Purchasing:
Firms reduced purchasing activity and inventory holdings, reflecting reluctance to hold stock amidst falling demand.Stocks of finished goods fell for the 11th time in 2024.Cost and Price Dynamics:
Input costs rose due to higher material, energy, and shipping costs, coupled with supply constraints causing longer vendor lead times.Selling prices increased as firms passed on cost burdens, with output price inflation at its highest since October but below the long-run average.Business Confidence:
Despite the downturn, business confidence reached its highest level since August 2022, fueled by optimism for lower interest rates and local elections in 2025.Outlook:
Firms remain hopeful for improved production prospects in the coming year despite intensified cost pressures and ongoing challenges.I guess business confidence climbing to a 28-month high is a positive in the report. Not much else is.
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about australia final manufacturing pmi december 2024 47 8 prior 49 4 was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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