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2026.05.2023:00:00UTC+00Australia’s Manufacturing Growth Cools as S&P Global PMI Slips Toward Stagnation in May

Australia’s manufacturing sector lost momentum in May, as the S&P Global Manufacturing PMI eased to 50.2 from 51.3 in April 2026. The latest reading, updated on 20 May 2026, brings the index close to the 50-point threshold that separates expansion from contraction, signaling that growth in the sector has slowed markedly.

While the PMI remains marginally in expansionary territory, the drop from April suggests a softening in overall manufacturing conditions. The moderation may reflect more cautious demand and a potential easing in new orders or output, leaving the sector hovering just above stagnation as the second quarter progresses.

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