PMI_chart_May22.JPG

Australian PMI®
Down 6.1 points
(seasonally adjusted)

52.4

Australian PMI®
Up 0.6 points
(trend)

55.4

 

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Next Release: 1 July 2022

May 2022 – Overview

Manufacturing recovery slows in May

The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell by 6.1 points to 52.4 points in May 2022 (seasonally adjusted), indicating a weaker pace of expansion. This halts three months of consistent acceleration for the Australian PMI® since February 2022. Results above 50 points indicate expansion, with higher results indicating a faster rate of expansion.

Four of the six manufacturing sectors in the Australian PMI® expanded in May 2022. Flat conditions were reported by manufacturers in building materials. The TCF, paper & printing sector improved but remained in contraction, while the large food & beverage sector fell back into contraction following a temporary recovery in April (seasonally adjusted). The machinery & equipment, and chemicals sectors expanded at a weaker rate. In contrast, metals manufacturers reported more upbeat conditions due to increased demand from the resource sector (seasonally adjusted).

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