The manufacturing sector in Australia continued to expand in Australia, and at a faster pace, the latest survey from the Australian Industry Group revealed on Monday with a seasonally adjusted Performance of Manufacturing Index score of 53.5.
That's up from 51.5 in June and it moves further above the boom-or0bust line of 50 that separates expansion from contraction.
The expansion in July was driven by the two largest manufacturing sectors in terms of employment: the large food and beverage and machinery and equipment sectors. All other sectors reported difficult trading conditions due to the impact of COVID-19.
Production, employment, supplier deliveries and finished stocks expanded and at a faster rate than in June. Respondents across all manufacturing sectors noted increased interest in locally made manufactured goods.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2161368/
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