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AUSTRALIAN MANUFACTURING ACTIVITY WEAKER IN MAY: AIG.
SYDNEY, June 1 Asia Pulse - Manufacturing activity in Australia was weaker in May after a lack of traction in the performance of the sector, the Australian Industry Group said today.
The PricewaterhouseCoopers Australian Performance of Manufacturing Index (PMI) shows a decline to 52.3 points from 58.4 points.
The PMI is a seasonally adjusted national composite index based on the diffusion indexes for production, new orders, deliveries, inventories and employment with varying weights.
The AIG says an apparent lack of traction in the performance of the sector reflects weaker demand and strong import competition, which was evident in moderating production, orders and deliveries and a small decline in jobs.
Across the major sectors the May Australian PMI result was influenced by contracting ...
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Source: HighBeam Research, AUSTRALIAN MANUFACTURING ACTIVITY WEAKER IN MAY: AIG.