Australia — CBA / Markit Manufacturing PMI (Feb.): 55.6 (prior 55.4)

There is never an Australian manufacturing PMI when you need one and then suddenly they all come at once!Michael Blythe, Chief Economist at the Commonwealth Bank:

  • Australian manufacturers are reporting positive activity and positive expectations in the early months of 2018.
  • The headline PMI picked up in February and is running above the average level over the life of the survey.
  • Expectations for future output are running at record highs
  • Australian manufacturers are benefiting from the positive global backdrop.
  • New export orders were up sharply in February.
  • This extra demand is driving strong jobs growth.
  • But capacity pressures remain evident in the run-down of finished goods stocks, lengthening supplier delivery times and rising backlogs of work. Rising input and output prices are one outcome.

(bolding mine)
Stonking strong report. AUD little changed … this PMI is not generally too much of an immediate market mover 
…. and, update …. AUD/USD a few ticcys lower 

Earlier today we got the 

  • Australian Industry Group performance of Manufacturing Index for February comes in at 57.5 — prior was 58.7

AiG are releasing their report an hour earlier than they used to, I reckon they are wanting to get in before the CBA report is published. Good idea, but their website is still not updated with the February report — just the headline. It’d be great if the report was available early too. 
Just my 2c Article Source

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