What does 50 mean in Australian PMI®?

Source: Ai Group Australian PMI® • 50 = neutral. Higher scores denote expansion, lower denote contraction. Next Release: February 2023 The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell 4.9 points to 44.7 points in November 2022, indicating deteriorating conditions (seasonally adjusted).

Why did Australian PMI® fall 44.7 points in November 2022?

Next Release: February 2023 The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell 4.9 points to 44.7 points in November 2022, indicating deteriorating conditions (seasonally adjusted). This is the first month of contraction following three months of flat conditions.

Why did Australia's manufacturing sector remain positive in June?

Lastly, sentiment in the Australian manufacturing sector remained positive in June, as signaled by an above 50.0 print of the Future Output Index. However, the level of confidence eased to a seven-month low as concerns gathered over rising costs and competition dampening sales. source: S&P Global