Australia’s S&P Global Manufacturing PMI Final rose to 51.6 from the previous 49.7, marking a significant increase and indicating expansion in the manufacturing sector. This 1.9-point rise reflects a shift from contraction to growth.
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The actual result matched the analyst estimate of 51.6, suggesting that the market had anticipated this improvement. The manufacturing sector is likely to experience positive sentiment, potentially boosting related stocks in the short term. This expansion may also influence broader economic growth expectations, affecting investor sentiment across various sectors.