The manufacturing sector in Australia climbed back into expansion in March, the latest survey from the Australian Industry Group revealed on Wednesday with a seasonally adjusted Performance of Manufacturing Index score of 53.7.
That's up sharply from 44.3 in February, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction after four months under water.
The move to expansion - which AiG calls surprising amidst the Covid-19 outbreak - is almost entirely due to a huge surge in demand for manufactured food, groceries and personal care items, as shoppers stock up on processed food, toilet paper, cleaning products and other household essentials.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2154507/
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