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AUSTRALIAN MANUFACTURING CONTINUES TO GROW IN OCT.
SYDNEY, Nov 1 Asia Pulse - Australian manufacturing continued to grow in October on the back of strong consumer demand.
The Australian Industry Group - PricewaterhouseCoopers Australian Performance of Manufacturing Index (PMI) rose an adjusted 1.1 points to 53.3 in October.
Following mid-year weakness, manufacturing activity was supported by an improvement in consumer-based manufactures such as food and beverages, as well as clothing and footwear, which underpinned stronger production and deliveries in the month.
However, an easing in new orders growth left some uncertainty over the sustainability of production, the report said.
Australian Industry Group chief executive Heather Ridout said the timing of federal government's tax relief was fortuitous.
"The tax cuts introduced on July 1 have been timely as they have provided some buffer against the impact of petrol prices on consumer spending," she said.
However, she warned pressure on the industry remained intense particularly from rising material input costs and international competition.
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