The S&P Global Australia Manufacturing PMI declined to 50.3 in May 2026 from 51.3 in April, preliminary data showed. The decline came as output contracted for the fourth consecutive month, while employment also declined. Meanwhile, delivery times lengthened by the second-largest extent in nearly four years due to vessel delays, material shortages, and higher fuel prices amid the ongoing Middle East conflict. Purchasing activity returned to contraction, falling at the sharpest pace in 15 months. On prices, input prices continued to fall, while output prices increased.