The recovery in the Australian manufacturing sector was sustained in August but the pace of growth slowed owing partially to the lockdown measures reimposed in Victoria, survey data from IHS Markit and Commonwealth Bank showed Tuesday.
The manufacturing Purchasing Managers’ Index fell to 53.6 in August from 54.0 in July. The flash reading was 53.9. Nonetheless, a score above 50 indicates expansion.
Output and new orders both increased further, but at slower rates in August. At the same time, exports shrank for a seventh straight month. Some firms reported sales growth to New Zealand, China and the US.
Firms continued to step up their input purchases, albeit at a slower pace, data showed.
Supply chains remained under severe pressure, while job losses persisted amid efforts to control costs.
Survey data subsequently showed supply shortages and increased freight fees drove up input prices. However, greater competitive pressure limited the ability of firms to raise prices.
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