For the second successive month, Australia has recorded a positive Performance of Manufacturing Index (PMI) result, posting an impressive 53.2.
With editorial from the Australian Industry Group characterising the gain as the manufacturing sector playing ‘catch up’, October’s result still has some sectors lagging (metals and machinery, although with incremental increases), but with surprising gains in others (printed media).
Continued buoyancy in the food and beverage sector has more than offset the reversal suffered by the non-metallic mineral products sub-sector.
Coming into the Christmas period, the PMI result is welcome news for a manufacturing industry that has been in transition for more than 36 months.
Follow the link below to go straight to the source… pmi_oct13
