Australia May Manufacturing PMI, final: 49.7 (prior 49.6)

The flash reading for this is here:

• Australian May preliminary manufacturing PMI 49.6 (prior 49.6)

The final reading is 49.7, the fourth consecutive month in contraction.

From the report, in brief:

• has shown a steady increase
  for three consecutive months since its cyclical low point in
  February
• starting to see an improvement in the sector’s employment
  indicator, … surpassed … 50.0 … for the first time in seven
  months, suggesting that manufacturers are no longer
  shedding labour
• input price index rose to 60.0, the highest
  level since November 2022
• output price index,
  representing inflation of consumer prices, rose to its highest
  reading in over a year

This article was written by Eamonn Sheridan at www.forexlive.com.