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AUSTRALIA'S MANUFACTURING GROWTH UP IN FEBRUARY.
SYDNEY, March 1 Asia Pulse - Growth in Australia's manufacturing industry improved in February, but business conditions remain tough, new figures show.
An improvement in the two largest sectors of the the Australian Industry Group - PricewaterhouseCoopers Australian Performance of Manufacturing Index (Australian PMI) underpinned a pick-up in manufacturing activity in February.
The food and beverages and chemicals, petroleum and coal products sectors accounted for three quarters of the improvement in the Australian PMI, which rose 6.4 points to 57.7.
This follows a fall of 1.1 points in January.
The results remained above the 50 point level for the seventh straight month, indicating that industry continued to expand.
Despite the healthy reading, Ai Group chief executive Heather Ridout said business conditions remained tough.
"A broadly-based and sustained upturn in domestic manufacturing is unlikely before there is a significant lift in consumer spending and residential construction activity," she said.
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