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AUSTRALIAN MANUFACTURING ACTIVITY EASES IN APRIL: INDEX.
SYDNEY, May 1 Asia Pulse - Manufacturing activity in Australia has declined in April following an easing in housing activity, an indicator of industry performance showed.
The results were revealed in the Australian Performance of Manufacturing Index (PMI) for April which came in at 58.8 points, down 0.3 points on the March reading.
This was the first decrease in the index in six months.
The Australian Industry Group (AIG), who help compile the index, said the slowdown in housing activity was reflected by falling orders in the wood, wood products and furniture sector and considerably weaker demand for construction material products.
However, strong retail spending, robust car sales and a cyclical build up of stocks meant Australian manufacturing continued to grow, AIG said.
Production, employment, finished stocks and deliveries of raw ...
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Source: HighBeam Research, AUSTRALIAN MANUFACTURING ACTIVITY EASES IN APRIL: INDEX.