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Financial News: Australia Performance Of Manufacturing Index Jumps To 61.7

Australia Performance Of Manufacturing Index Jumps To 61.7 - AiG

05/02/2021 - 20:39:00 (RTTNews)

(RTTNews) - The manufacturing sector in Australia continued to expand in April, and at a faster pace, the latest survey from the Australian Industry Group showed on Monday with a Performance of Manufacturing Index score of 61.7.

That's up from 59.9 in March and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

This was the highest monthly result for the Australian PMI since March 2018 and a seventh consecutive month of recovery from the severe disruptions of Covid-19 in Q2 of 2020.

All six manufacturing sectors in the Australian PMI expanded in April, as did all seven activity indicators. The Australian PMI capacity utilization index hit a record high for this series, which suggests employment and/or investment may need to step up in order to facilitate further growth from here.

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