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AUSTRALIA'S MANUFACTURING SECTOR STEADY IN MARCH.

AsiaPulse News

| April 01, 2003 | COPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, April 1 Asia Pulse - Australia's manufacturing sector is performing steadily, holding up well in the early part of the war with industrial based sectors supporting the market, figures released today showed.

The Australian Industry Group Performance of Manufacturing Index for March was at 54.0 points, down just 0.1 points from the February reading.

A result above 50 indicates the manufacturing sector is expanding, a number below 50 indicates it is contracting.

However, the monthly survey did suggest there was further softening to come in the sector going forward.

"It is encouraging that manufacturing activity is holding up given the international pressures buffeting the Australian economy," AI Group deputy chief executive Heather Ridout said.

"Nevertheless, the fall in new orders, stocks and deliveries ...

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Source: HighBeam Research, AUSTRALIA'S MANUFACTURING SECTOR STEADY IN MARCH.

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