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Australia manufacturing PMI falls to 49.6 as new orders drop for first time since June

The drop from 52.0 to 49.6 points to softer factory momentum, with the fall in new orders the signal most likely to draw attention because it reverses two months of improvement. The mix is awkward for rate and growth debates: weaker demand and job losses argue for patience, but oil, raw material and freight costs are still elevated and supplier delays are lengthening as the Middle East war…

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