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JUL, P CBA MANUFACTURING PMI 53.4; JUN....>

AUSTRALIA
AUSTRALIA: JUL, P CBA MANUFACTURING PMI 53.4; JUN 51.2
JUL, P CBA SERVICES PMI 58.5; JUN 53.1
JUL, P CBA COMPOSITE PMI 57.9; JUN 52.7
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"The improvement in growth momentum in July is welcome, but concerns around
COVID-19 and the potential policy responses to a lift in the number of new cases
continue to weigh on activity. The fall in employment looks a little surprising
given some other measures of labour demand have firmed more recently. But
encouragingly the acceleration of growth in new orders suggests labour demand
should improve. The lack of any inflationary pulse was once again evident. That
supports our view that we will be in a low inflation environment for an extended
period of time."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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