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AUSTRALIAN MANUFACTURING SECTOR GROWING AT MODERATE PACE.
SYDNEY, Dec 1 Asia Pulse - Despite weaker exports, Australia's manufacturing sector continues to grow at a moderate pace, with strong activity recorded in November, an index has shown.
The Australian Industry Group and PricewaterhouseCoopers Australian Performance of Manufacturing Index (PMI) was down 0.2 points at 53.1, however in raw terms activity was strong, reflecting seasonal factors.
The PMI found activity was stronger in six sectors with the wood, wood products and furniture, and machinery and equipment sectors having the largest improvement.
Activity also strengthened in the metal-based sectors of transport equipment, basic metals and fabricated metals, as well as in textiles.
The index found that growth weakened considerably in the clothing and footwear and miscellaneous manufacturing sectors.
Ai Group chief executive Heather Ridout said that while manufacturing continues to grow at a moderate pace, overall performance is being held back by weak exports.
"Based on November (index) responses, exports of ...
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Source: HighBeam Research, AUSTRALIAN MANUFACTURING SECTOR GROWING AT MODERATE PACE.