S&P Global(US:SPGI) Xin Hua Cai Jing·2026-01-02 01:58Core Viewpoint - The S&P Global Australia Manufacturing PMI remains at 51.6 in December 2025, indicating continued expansion in the Australian manufacturing sector for the second consecutive month, although the rate of expansion has stabilized [1]. Group 1: Manufacturing Performance - The manufacturing sector in Australia shows growth in new orders and factory output in December, but the growth rate has slowed compared to November [2]. - Despite an increase in new orders, the overall growth is limited due to a weakening market environment, intensified competition, and weak overseas demand [2]. - New export orders have declined for the fourth consecutive month due to constrained budgets from overseas clients [2]. Group 2: Employment and Production - The increase in new orders and production demand has led to a rise in employment, reaching the highest growth rate in nine months [2]. - Unfinished work has decreased further, while input inventories have slightly declined for the third consecutive month [2]. Group 3: Cost and Pricing - Average input costs in the manufacturing sector have continued to rise, with the increase in costs accelerating compared to November due to higher material prices and transportation costs [2]. - Supplier delivery times have extended to the highest level since November 2024, attributed to supply shortages and delivery delays [2]. - Manufacturers have raised average product prices to pass on additional cost pressures, although the increase remains below long-term averages [2]. Group 4: Business Confidence - Business confidence in the Australian manufacturing sector remains positive, with expectations for new product launches and business expansion to drive sales and output growth in the next 12 months [3]. - Confidence levels have reached a four-month high, reflecting optimism about future production growth despite a slowdown in new orders and output growth [3].