Australia: Manufacturing PMI posts sub-50 print and the lowest reading since June 2015 - BBH

Research Team at BBH, notes that the Australia's manufacturing PMI dropped to 46.9 from 56.4. 

Key Quotes

“It is the first sub-50 print and the lowest reading since June 2015.  Australia also reported flat July retail sales figures, for which the median forecast was for a 0.3% bounce after 0.1% gains in May and June.  However, the Australian dollar was not sold.  It is recovering from yesterday's dip below $0.7500 for the first time since the start of August.”