Economic Buzz: Australia Manufacturing PMI Expands In April

2 May 2022 , 11:22 AM

The manufacturing sector in Australia continued to expand in April, and at a faster rate, the latest survey from S&P Global showed on Monday with a manufacturing PMI score of 58.8. Thats up from 57.7 in March and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Manufacturing output in Australia rose at a faster pace in April, supported by strong new orders growth as better market conditions underpinned an increase in demand. Foreign demand saw renewed growth following three consecutive months of contraction with the easing of border restrictions in some trading partner nations supported the change. As a result of higher demand and output, employment levels rose at a faster pace in April.

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