Highlights from the report:

  • Production expands at fastest pace since April 2022
  • The quickest rise in new orders in almost three years
  • Stocks of purchases record sharpest growth since June 2022

More:

  • PMI rose to 53.0 in August (up from 51.3 in July), marking the fastest improvement since September 2022
  • Production and new orders increased solidly, with exports returning to growth for the first time since May
  • Employment expanded for the sixth consecutive month as manufacturers hired additional staff to handle rising workloads
  • Inventory levels rose at the fastest pace in 38-46 months as companies built safety stock amid supply delays
  • Business confidence soared to the highest level since February 2022, with firms optimistic about new products and economic conditions
  • Price pressures stayed subdued, with only mild rises in input and output costs.

---

This data point tends not to move markets too much at all. AUD/USD is around 0.6543 and little changed.

Source: Forex Live