June’s PMI revision to 51.5 signals sustained expansion, exceeding initial estimates and May’s reading.
Australia’s manufacturing sector expanded for a third straight month in June, with the S&P Global PMI revised upward to 51.5, the highest since January. The reading surpassed the preliminary estimate of 51.2 and May’s 50.7.
The index has remained above the 50 threshold, indicating growth, after a period of contraction earlier in the year. Prior to June, the last expansionary print was in January at 51.8, while consensus expectations had centered around a modest improvement from May.
No immediate market reaction was reported following the release.