By James GlynnSYDNEY--Activity in Australia's manufacturing sectors could be entering a recovery phase, with firms reporting ongoing demand for labor, with cost pressures reaching their highest level for years. The headline seasonally adjusted Judo Bank Australia manufacturing purchasing managers index rose to 49.7 in May, up from 49.6 in April. A reading above 50 indicates an expansion in manufacturing activity, while a reading below that indicates a contraction. Still, price pressures remain concerning. The input price index rose to 60.0, the highest level since November 2022, and the output price index, representing inflation of consumer prices, rose to its highest reading in over a year.

Source: Wall Street Journal June 03, 2024 00:24 UTC