Australia's manufacturing sector showed signs of cooling in February as the PMI dropped to 51.0 from January's 52.3, according to S&P Global data released Monday. While the index remains above the critical 50 threshold that separates expansion from contraction, the slowdown signals weakening momentum in the world's thirteenth largest economy. New orders expanded for a fourth consecutive month but at a notably slower pace, with companies citing reduced foreign demand growth as a key headwind. Manufacturing output actually declined in February, marking the first contraction in four months, as weaker order growth combined with scheduled machinery maintenance to pressure production levels. The data suggests Australian manufacturers face mounting headwinds from international markets despite continued domestic resilience.
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