The manufacturing sector in Australia continued to expand in February, and at a faster pace, the latest survey from the Australian Industry Group showed on Tuesday with a PMI score of 53.5.
That’s up from 51.5 in January, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
In all, the index has expanded in eight straight months.
Among the individual components of the survey, production, new orders, stocks, deliveries, exports and sales all expanded, while employment lagged in contraction.
The material has been provided by InstaForex Company – www.instaforex.com