Australian PMI composite falls to 49.9, bolsters case for early RBA rate cut

Australia’s November PMI data pointing to a broad-based slowdown. The Manufacturing index fell from 49.4 to 48.2. Services PMI edged down from 50.5 to 50.3. Meanwhile, Composite PMI dropped from 50.2 to 49.9, slipping into mild contraction territory. Jingyi Pan, Economics Associate Director at S&P Global Market Intelligence, noted that the data reflects growing strain […]

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