Australia Manufacturing PMI Slows To 53.5 In September - S&P Global
(RTTNews) - The manufacturing sector in Australia continued to expand in September, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 53.5.
That's down from 53.8, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Production at Australian manufacturing firms rose for an eighth consecutive month in September and at the quickest rate in five months. Panelists commented that a general uplift in demand as well as improvements in production efficiency contributed to the accelerated growth.
At the same time, September data pointed to the sharpest rise in new orders in thirteen months. The upturn was primarily driven by stronger underlying demand conditions. A fourth consecutive month of growth in new export orders signaled that foreign markets continued to contribute to overall sales wins.
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