The latest manufacturing PMI print for October has just been released with the index rising 0.2pts to 50.4, a 3-month high. While a good headline print, the...

David Scutt

Scutt Partners

The latest manufacturing PMI print for October has just been released with the index rising 0.2pts to 50.4, a 3-month high. While a good headline print, the internals of the report were hardly inspiring with output, new orders, new export orders, backlogs and purchase quantities all growing at a slower pace than September. In what is another sign of disinflation, both input and output prices declined at a faster rate than a month earlier. With most of the sub-components weakening, stocks of finished goods pushing into expansionary territory, hardly a strong outcome given weakness in future orders, along with a slower decline in employment numbers, were the chief catalyst behind the jump in the headline index. (VIEW LINK)


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Independent Market Strategist
Scutt Partners

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

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