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AUSTRALIA'S MANUFACTURING ACTIVITY EXPANDS IN NOVEMBER.
SYDNEY, Dec 1 Asia Pulse - Growth in Australia's manufacturing activity continued to expand moderately in November, a new survey shows.
The Australian Industry Group/PricewaterhouseCoopers Australian performance of manufacturing (PMI) index increased 2.5 points to a reading of 54.4, remaining above the 50.0 level separating expansion from contraction.
This rise follows a slight fall in the index in October.
The pick-up in activity was largely underpinned by a jump in export growth, with the export index rising in November to the highest level yet recorded.
It was also the sixth consecutive month of export growth.
Ai Group chief executive Heather Ridout said the moderate improvement underway was now beginning to receive valuable support from exports.
"After a prolonged period of weakness, manufactured exports have now grown for six consecutive months and in November the export component of the Australian PMI jumped to the highest level recorded," she said.
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Source: HighBeam Research, AUSTRALIA'S MANUFACTURING ACTIVITY EXPANDS IN NOVEMBER.