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Market Update: Australia Markit Manufacturing PMI Revised Up
The IHS Markit Australia Manufacturing PMI was revised slightly higher to 52 in August of 2021 from a preliminary of 51.7, still lower than 56.9 in July. That was the slowest growth in factory activity since June 2020, affected by COVID-19 disruptions and supply-chain constraints. Both demand and production fell for the first time since June 2020 amid the extension of mobility restrictions, including strict lockdown measures across various Australian states. Also, price pressures remained elevated, while supplier delivery times worsened sharply. Meanwhile, firms continued to increase their acquisition of inputs and expand workforce numbers amid improved confidence for future performance. source: Markit Economics [/s2If]
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