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AUSTRALIAN MANUFACTURING ACTIVITY STALLS IN JULY.
SYDNEY, Aug 1 Asia Pulse - Manufacturing activity stalled in July, with weakness particularly marked in the consumer-based sectors.
The Australian Industry Group-PricewaterhouseCoopers performance of manufacturing index (PMI) fell by 4.8 points to 49.7, seasonally adjusted.
An index above 50 indicates expansion in the sector while an index below 50 indicates contraction.
Australian Industry Group chief executive Heather Ridout said the latest PMI indicates manufacturers are continuing to do it tough.
"Clearly, any rise in interest rates will be imposed on a sector that's struggling in the face of formidable cyclical and structural pressures," Ms Ridout said.
"Further interest rate hikes would reinforce the cyclical weakness evident in housing and construction and would be bad news for the ...
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Source: HighBeam Research, AUSTRALIAN MANUFACTURING ACTIVITY STALLS IN JULY.