June’s preliminary S&P Global Manufacturing PMI rose to 51.2, signaling expansion and supporting the Australian dollar.
Australia’s S&P Global Manufacturing PMI increased to 51.2 in June from 50.7 in May, marking the second consecutive month of expansion. The reading surpassed expectations and indicated improving business conditions in the sector.
The index had hovered near the 50.0 threshold in recent months, with May’s print at 50.7. A reading above 50 signals growth, while below reflects contraction. The June uptick suggests a modest recovery in manufacturing activity.
The data reinforced expectations for a resilient Australian economy, providing support for AUD/USD trading.