Australia Manufacturing Sector Expands In November - S&P Global
(RTTNews) - The manufacturing sector in Australia bounced back up into expansion territory in November, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 51.6.
That's up from 49.7 and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
Effective business growth initiatives and the introduction of new products underpinned the first rise in new orders since August. This was despite new export orders falling for a third straight month amid subdued international trade conditions. The renewal of new business growth spurred a corresponding upturn in production midway through the fourth quarter.
Improved demand was accompanied by rising business confidence. Optimism regarding output in the year ahead increased since October, with panelists often citing business expansion plans and expected improvements in economic conditions to spur sales growth.
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