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AUSTRALIA'S DECEMBER PMI HOLDS POSITIVE OUTLOOK FOR 2003.
SYDNEY, Jan 2 Asia Pulse - The Performance of Manufacturing Index for December has slipped from its November levels but still holds a positive outlook for 2003.
The Australian Industry Group PMI came in at 56.7 points to end 2002, a fall of 1.9 points from November but the outlook remains firm.
"Companies can start 2003 on a positive note with strong PMI results over the last few months," AIG chief economist Tony Pensabene said.
"This is particularly good given the uncertainty in the global economy, the likely impact of the drought and signs of weaker activity in the housing market."
The index showed production, new orders, employment and deliveries of raw materials all remained above the 50 point level.
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