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AUSTRALIAN MANUFACTURING INDUSTRY SHRINKS FURTHER IN MARCH: POLL.
SYDNEY, April 1 Asia Pulse - The manufacturing industry in Australia continues to feel the impact of the downturn in the global economy, a survey shows.
The Australian Industry Group-PricewaterhouseCoopers Australian Performance of Manufacturing Index (PMI) rose by 1.7 index points in March to 33.4 points.
The index still was below the key 50 points level separating an expansion from a contraction in activity for the tenth consecutive month.
AI Group chief executive Heather Ridout said manufacturing industry continued to face a challenging economic environment with all sectors in all states, bar Tasmania, declining in activity in March.
"Production, capacity utilisation and exports remain in the doldrums, with the new orders reading - although a little up from February - not indicating any early pick up," Ms Ridout said.
"As a result, employment fell across the board while wages growth continued to ease."
Ms Ridout said the report indicated the economy had not reached bottom, while the outlook remained unsettled.
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