Australia's May manufacturing PMI revised upward to 50.7, easing from April high

[Data Concept]

The S&P Global Australia Manufacturing PMI increased to 50.7 in May 2026, up from a preliminary estimate of 50.2, but down from 51.3 in April. Output shrank for the fourth month, with new orders declining sharply, including a solid drop in new export orders.

"One small positive from the latest survey was a rise in employment as firms looked to speed up production lines. The increase was only marginal, however, and unlikely to be sustained if new business continues to fall in the months ahead," said Andrew Harker, Economics Director at S&P Global Market Intelligence.

Separate data showed, ANZ–Indeed Australian Job Ads rose 1.8% mom in May 2026, rebounding from a 0.6% decline in the prior month and marking the first gain since February.

Australia’s Melbourne Institute Monthly Inflation Gauge fell 0.3% month-on-month in May 2026, reversing a 0.6% increase in the previous month.

The S&P/ASX 200 Index [https://seekingalpha.com/symbol/AS51] fell 23 points, or 0.3%, to 8,707 in early trade on the first day of June, reversing the prior session’s rally. The Australian dollar traded flat at $0.71, sitting near a two-week high.

Markets awaited key releases, including the April trade balance, Q1 current account, and GDP figures, are expected to offer insight into the economy’s underlying momentum and help shape expectations for the Reserve Bank's policy outlook.

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