New data Judo Bank Manufacturing PMI (Oct)

10/31/2024

actual 47.3, previous 46.7

The event is the Judo Bank Manufacturing PMI (Purchasing Managers' Index) for October. The actual PMI value reported is 47.3, which is higher than the previous value of 46.7. This indicates a slight improvement in the manufacturing sector compared to the previous period. The estimated value was 46.6, so the actual value slightly exceeded expectations.

PMI is a key economic indicator that provides insight into the health of the manufacturing sector. A PMI value above 50 indicates expansion, while a value below 50 indicates contraction. In this case, the PMI of 47.3 suggests that the Australian manufacturing sector is still contracting, but at a slightly slower pace compared to the previous period.

Since the impact of this event is considered high, it may lead to market volatility and affect the value of the Australian dollar (AUD) in the foreign exchange market.

This is not investment advice. Remember to verify the information provided here.