The manufacturing sector in Australia continued to expand in April, and at a faster pace, the latest survey from the Australian Industry Group showed on Monday with a Performance of Manufacturing Index score of 61.7.
That’s up from 59.9 in March and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
This was the highest monthly result for the Australian PMI since March 2018 and a seventh consecutive month of recovery from the severe disruptions of Covid-19 in Q2 of 2020.
All six manufacturing sectors in the Australian PMI expanded in April, as did all seven activity indicators. The Australian PMI capacity utilization index hit a record high for this series, which suggests employment and/or investment may need to step up in order to facilitate further growth from here.
The material has been provided by InstaForex Company – www.instaforex.com