Manufacturing strengthened in August, according to PMI

The Australian Industry Group’s monthly Performance of Manufacturing Index showed the sector lift in August, with production and sales activity indices both returning to growth and the overall PMI up 1.8 points to 53.1

The PMI survey found four of six sub-sectors with results over 50, with 50 the point separating expansion and contraction.

The Metal Products and TCF, Paper & Printing Products categories slipped further into the red, at 37.9 and 41.7 respectively. Food & Beverages, the largest of the six sub-sectors, reported “its weakest condition since November 2016” at 55.8. 

Each of the seven activity sub-indices grew, with production up 4.9 points to 53.2 and sales up 11.6 to 54.3.

The full results can be seen here.

Source: Australian Industry Group