The manufacturing sector in Australia swung up into expansion territory in in June, the latest survey from the Australian Industry Group revealed on Wednesday with a seasonally adjusted Performance of Manufacturing Index score of 51.5.
That’s up from 41.6 in May, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.
Across the sectors included in the Australian PMI, almost all of the improvement in June was concentrated in the large food and beverages sector. Food and beverage manufacturers said new orders from food wholesale distributors are improving, as trading restrictions are relaxed.
The material has been provided by InstaForex Company – www.instaforex.com
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