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AUSTRALIA'S MANUFACTURING SECTOR DOWN 3.3 PCT IN SEPT.
SYDNEY, Oct 1 Asia Pulse - Australian manufacturing slid in September, with analysts saying the result confirms the sector is moving into more stable growth going forward.
The Performance of Manufacturing Index (PMI) from the Australian Industry Group and PricewaterhouseCoopers came in at 56.4 points, a 3.3 point decline from the August reading.
A result above 50 implies a growing manufacturing sector with an increase in activity.
However, AI Group deputy chief executive Heather Ridout said the slide means the sector has merely settled into a longer term growth pattern.
"While growth has eased since the mid-year cyclical peak, we are still doing a lot better than our competitors in other industrialised countries," she said.
The PMI showed 10 of the 12 sectors covered recorded production growth ...
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