Australia's Judo Bank Purchasing Manager Index (PMI) figures declined in June, with both the Manufacturing and Services components chalking in a fall back from previous periods.
June's Australian Manufacturing PMI declined to 47.5 from 49.7, returning to familiar lows. The Services PMI also backslid but remained in positive territory, falling to a five-month low of 51.0 from 51.2.
As noted by Judo Bank Chief Economist Warren Hogan, "The composite output index pulled back in June but remains in expansionary territory. The June flash reading was the lowest since January and has now eased back from the March high point. The June reading suggests that business activity is still growing, but slower than in March and April."
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