The manufacturing sector in Australia is continuing to expand in April, and at a faster pace, Friday’s flash estimate from Markit Economics revealed on Friday with a survey record manufacturing PMI score of 59.6.
That’s up from 56.8 in March and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, the upturn was associated with improved client confidence, buoyant market conditions, strengthening demand, the easing of COVID-19 restrictions and low interest rates.
Aggregate new orders likewise increased at a survey-record pace, while the rise in total sales was supported by a recovery in new export orders.
Also, the services index improved to 58.6 in April from 55.5 in March and the composite index climbed to 58.8 in April from 55.5 in March.
The material has been provided by InstaForex Company – www.instaforex.com