Economic Buzz: Australia Manufacturing Sector Expands At Faster Pace In March

24 Mar 2022 , 09:23 AM

Australia manufacturing sector continued to expand in March, and at a faster pace, the latest survey from S&P Global showed on Thursday with a manufacturing PMI score of 57.3. Thats up from 57.0 in February and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Manufacturing production rose as new order growth accelerated in March. Firms reported that the lessening of COVID-19 disruptions led to an increase in demand. In turn, employment levels and purchasing activity continued to rise in March, contributing to higher stocks of purchase. The survey also showed that the services PMI climbed to 57.9 from 57.4 and the composite PMI improved to 57.1 from 56.6.

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