Time to analyze Australia and you will see that the indicators to cover here are to be found on the other countries that we analyzed and they should be in any economic outlook project regarding a specific country.
AIG Manufacturing Index is the equivalent of ISM manufacturing in the United States,Final Manufacturing PMI indicator in Europe, and Manufacturing PMI in the UK and it is a survey based on purchasing managers in the manufacturing industry being asked to respond questions relative to the general business conditions, employment levels in the company, new orders, inventories, etc. It is released by Australian Industry Group.
The release is compared with the fifty value, the standard interpretation being that values higher that fifty should signal industry expansion, while values lower than 50 signal industry contraction.
The most important things to take into consideration when looking at the AIG Manufacturing Index in Australia are:
- release date: monthly, the first business date after the month ends;
- release time: 23:30 GMT during the Asian trading session;
- first tier data;
- brings volatility;
- traders look at contraction/expansion levels.