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AUSTRALIAN MANUFACTURING ACTIVITY EXPANDS MODERATELY IN AUGUST.
SYDNEY, Sept 1 Asia Pulse - Manufacturing activity expanded moderately in August, underpinned by a lift in domestic demand and exports.
The Australian Industry Group-PricewaterhouseCoopers performance of manufacturing index (PMI) rose by 2.4 points to 52.1, to be just above the 50 point level that separates expansion from contraction.
Nevertheless, overall manufacturing performance was mixed, with input cost pressures continuing to be a burden on the sector, driving a continued focus on cost reductions, the report indicated.
Australian Industry Group chief executive Heather Ridout said already choppy conditions had been exacerbated by a jump in raw material costs and rises in official interest rates.
"The improvement in trend growth in recent months is encouraging, however, the strong headwinds the industry faces from continuing uncertainty over interest rates, subdued activity in the housing sector, high energy prices and a high exchange rate suggest that it may be difficult for growth to ...
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Source: HighBeam Research, AUSTRALIAN MANUFACTURING ACTIVITY EXPANDS MODERATELY IN AUGUST.