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WEAKER AUSTRALIAN DOLLAR BOOSTS MANUFACTURING SECTOR IN MARCH.
SYDNEY, April 3 Asia Pulse - A weaker Australian dollar and rise in exports and new orders boosted activity in the nation's manufacturing sector in March, a survey found.
The Australian Industry Group (Ai Group)-PricewaterhouseCoopers performance of manufacturing index (PMI) rose 6.5 points to 53.2 in the month.
A reading above 50 indicates an expansion in activity while a reading below 50 indicates a contraction.
Ai Group chief executive Heather Ridout said while there were some encouraging signs in the PMI, it was far too early to call a turnaround in conditions.
"The recent weakening of the (Australian) dollar should provide some welcome relief for import competing sectors and support for exporters," Ms Ridout said.
"However, further signs of stronger demand, an end to de-stocking and a broadening in growth across all sectors are needed.
"Renewed rises in input costs and continued labour shedding are also contributing to ongoing uncertainty surrounding the outlook for the sector."
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Source: HighBeam Research, WEAKER AUSTRALIAN DOLLAR BOOSTS MANUFACTURING SECTOR IN MARCH.