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MANUFACTURERS FACE BETTER OUTLOOK IN AUSTRALIAN STATE: SURVEY.
SYDNEY, Dec 3 Asia Pulse - A new survey has shown that business conditions improved for the third consecutive quarter in the New South Wales manufacturing sector.
The sector is flagging its best conditions in seven years over the first three months of 2002.
The Survey of Manufacturing in New South Wales for the December quarter showed a business conditions index of zero, compared with minus 11 in the September quarter and minus 19 in the June quarter.
A result of minus 19 means that there were 19 per cent more respondents reporting weaker conditions than stronger conditions.
The report showed that respondents were expecting the business conditions index to rise to 20 in the March quarter and that if that did materialise it would be the best result since the September quarter 1994.
"While there are no guarantees, the fact that positive influences outweigh the negatives is extremely encouraging for manufacturers," said Craig James, chief economist at Commonwealth Securities.
"Firm housing activity, the competitive currency and low interest rates will greatly assist in the continued recovery of the manufacturing sector."
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