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The Judo Bank Australia Manufacturing PMI was 50.1 in January, up from 47.6 in December.
It snapped the tenth month of contraction in manufacturing sector conditions, supported by easing declines in new orders, production, and job shedding.
Manufacturing output declined at a slower rate, driven by softer economic conditions and reduced demand, while employment levels fell marginally.
Purchasing activity contracted, leading to unchanged input inventory holdings.
Supply issues, including lengthening lead times, were attributed to domestic port and Red Sea disruptions.
“The January Australian Manufacturing PMI report suggests that the Australian economy remains on a soft landing trajectory,” said Warren Hogan, chief economic adviser at Judo Bank.
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