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OCT AUSTRALIAN MANUFACTURING INDEX FALLS BUT OUTLOOK STILL GOOD.
SYDNEY, Nov 1 Asia Pulse - The Australian Industry Group said whilst the Australian performance of manufacturing index fell in October, the overall outlook remains good.
The PMI came in at 56.3 in October, a fall of 0.1 points from the September reading.
A reading above 50 suggests manufacturing production is expanding, below 50 implies production is declining.
The AI Group said that while the index has come down from the peaks reached through the middle of the year, there is little sign of overheating.
"The strength of the index is encouraging," Australian Industry Group Deputy Chief Executive, Heather Ridout, said.
"It shows that the sector is continuing to expand but at a sustainable pace within the current monetary policy settings.
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