The manufacturing sector in Australia continued to expand in November, and at a faster pace, the latest survey from Markit Economics showed on Wednesday with a manufacturing PMI score of 59.2.
That's up from 58.2 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
This marks the eighteenth straight month in which the sector grew and at the third-fastest rate on record.
A further easing of COVID-19 restrictions boosted market confidence and enabled demand to rise at a stronger pace in November. In turn, production likewise ramped up according to the latest survey results.
New export orders improved as well with COVID-19 restrictions easing abroad, though the rate of growth fell amidst ongoing shipping issues.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186385/
No comments:
Post a Comment