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Australia's manufacturing PMI fell below the boom-bust line in October 2025

The latest data report released by financial analysis company S&P Global shows that the S&P Global Australia Manufacturing PMI dropped to 49.7 points in October 2025 from 51.4 points in September.
This is the first time that the index has fallen below the recession line after being above the boom line for nine consecutive months, indicating that Australia's manufacturing industry has stopped continuing to expand and has turned to shrinking, but the shrinkage is weak.
The S&P Global Australian Manufacturing PMI is a weighted average calculated based on output indicators, new orders indicators, employment indicators, supplier delivery time indicators and purchase inventory indicators. The index is above 50 points, indicating that Australia's manufacturing industry is expanding, and below 50 points, it indicates that the country's manufacturing industry is shrinking.
The latest report pointed out that due to the deterioration of market demand, new domestic orders for the Australian manufacturing industry fell at the fastest rate in 10 months in October. At the same time, new export orders also fell, especially from the Asia-Pacific region. Under this circumstance, the Australian manufacturing industry reduced factory output for the first time since June, reduced employment for the first time in eight months, and reduced purchasing activities for the first time in three months, resulting in a decrease in the inventory of purchased goods.
Inventories of finished goods continued to increase in October. In addition to the lack of new orders, the reason was also related to shipment delays. Affected by port congestion, poor weather conditions and shipping delays, delivery times for the Australian manufacturing industry in October were extended by the largest margin this year.
In terms of prices, the average input cost of Australia's manufacturing industry continued to increase in October, and its growth rate reached the highest level since April. The main driving factors behind the rising cost pressure are rising prices of raw materials, electricity and shipping. At the same time, despite the accelerated rise in costs, the pace of manufacturing companies increasing product sales prices slowed down in October. The report said sluggish demand and strong competitive pressure limited companies' ability to pass on cost burdens to customers.
In October, Australian manufacturing companies remained optimistic about output growth over the next 12 months. However, the Australian manufacturing business confidence level indicator fell to a four-month low that month, indicating that companies are increasingly worried about the macroeconomic outlook.
S&P Global Economist Pan Jingyi said that data shows that both domestic demand and overseas demand for Australian manufacturing products have deteriorated. Judging from the reduction in employment and declining business optimism, Australian manufacturing companies have become more cautious about growth prospects.
Release time: 2025-11-04

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