Australia Manufacturing PMI Steady At 51.7 In May - S&P Global

(RTTNews) - The manufacturing sector in Australia continued to expand in May, and at a steady pace, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 51.7.

That was unchanged from the April reading, and it remained above the boom-or-bust line of 50 that separated expansion from contraction.

The data also showed that the services PMI slipped to 50.5 from 51.0, while the composite index fell to 50.6 from 51.0.

Slight rises in activity were seen in services and manufacturing, with both sectors recording a slowdown in growth from the previous month.

The latest rise in output reflected continued success in securing new orders, which increased for the 10th straight month in May - although the rate of expansion was the weakest in a year.