Australia: October manufacturing PMI revised to 49.6; Melbourne Institute inflation gauge rises 0.5%
FROM THE WIRE · SEEKINGALPHA.COM
[Data Concept] The S&P Global Australia Manufacturing PMI was revised slightly lower to 49.6 in October 2026 from the preliminary estimate of 49.7, remaining unchanged from September's 21-month low. The reading marked a second consecutive month of sector contraction, driven by…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA contracting PMI alongside faster monthly inflation weighs on sentiment toward Australia and the Australian dollar.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The S&P Global Australia Manufacturing PMI was revised to 49.6 in October 2026 from 49.7 preliminary.
- 02The drop in new orders was the sharpest since December 2024.
- 03The S&P/ASX 200 fell 0.6% to close at 8,857, while the Australian dollar weakened to around 0.70 dollars.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
iShares MSCI Australia ETF29.43 USD-0.37%today -0.37%Negative S&P/ASX 2008,856.50Market closedtoday -0.58%Negative Australian Dollar/US Dollar FX Spot Rate0.6998-0.29%today -0.53%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets