Australia's June PMI bounces 4.8 points from May, but still points to contraction at 47.2. Not a...

|By:, SA News Editor
Australia's June PMI bounces 4.8 points from May, but still points to contraction at 47.2. Not a great combination, wages and input costs continue a solid rise (59.4) as output costs continue a sharp decline (41.8).  The aussie rose on the print, but has since given back gains, +0.1% to $1.0247. Sydney puts in a middling (considering Friday's fireworks) rally, +0.9%.