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AUSTRALIAN MANUFACTURING PERFORMANCE INDEX RISES IN JUNE.
SYDNEY, July 1 Asia Pulse - The Australian Performance of Manufacturing Index rose to its highest level since September 1994 and is expected to continue to drive growth into the September quarter.
The PMI rose to 60.1 in June, a rise of 0.2 points from the May result and showed that manufacturing could help boost economic growth going forward.
Despite this, the Australian Industry Group, who produce the survey, warn that it should not be necessarily deemed a reason for another rate hike this week.
"While these are good results, the growth in new orders and employment is slowing," AIG deputy chief executive Helen Ridout said.
"This may well be an early signal that the sector has peaked. That suggests that ...
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