The manufacturing sector in Australia continued to expand in October, albeit at a slower pace, the latest survey from IHS Markit revealed on Friday with a manufacturing PMI score of 54.2.
That's down from 55.4 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Services activity rose solidly in October, building on a mild gain in September. Inflows of new work also increased further, though at a pace insufficient to put pressure on capacity in the service sector. Firms consequently reduced their workforces further, but at a rate noticeably slower than in September.
The survey also said the services PMI rose to 53.8 from 50.8 last month and the composite PMI came in at 53.6 - up from 51.1.
Growth in business activity across the Australian private sector gained pace in October as restrictions designed to contain the coronavirus disease 2019 (COVID-19) were relaxed further. The rate of increase was solid and the fastest for three months.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2165895/
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