Australia AiG Performance of Manufacturing Index dropped -3.1 pts to 51.6 in October (seasonally adjusted), down from 54.7. The result suggests much slower growth in the sector. In trend terms, three of the six sectors are in contraction, metal products; TCF, paper & printing; building materials, woods, furniture & other. Employment index dropped -4.8 to 52.8, indicating slower expansion, but stays above long-run average of 48.9. Average wages index dropped -4.5 pts to 59.3, just above long-run average of 59.2.
Also from Australia, PPI rose 0.4% qoq, 1.6% yoy in Q3, versus expectation of 0.3% qoq, 1.8% yoy.
