Stockbroking | Wealth Management | Corporate Advice

x

Resizing text on the web

To increase or decrease the magnification of a web page, press Ctrl and '+' (plus) to zoom in or Ctrl and '-' (minus) to zoom out. To return the page to its original size, press Ctrl + 0.

You can also scroll the mouse wheel up and down while holding Ctrl to increase/decrease zoom level.

Manufacturing posts 16th month of growth

Growth in Australia's manufacturing sector has enjoyed 16 consecutive months of expansion; its longest run of growth in 13 years.

The Australian Industry Group's Australian Performance of Manufacturing Index (PMI) rose 2.5 points to 58.7 points in January, which is comfortably above the 50-point level that indicates an increase in manufacturing activity.

Ai Group chief executive Innes Willox said it marks a strong start to the year for Australia's manufacturing industry .

"Food and beverage producers led the way supported by strong showings from businesses in the petroleum, coal and chemicals; metal products; and machinery and equipment sub-sectors," he said.

The coal and chemicals sector recorded its highest monthly growth while the textiles and clothing sector recorded its lowest monthly growth.

Mr Willox said overall, production and sales volumes were robust and employment also grew but hefty power costs and strong competition, in part due to the stronger Australian dollar, continued to keep margins tight and restrain wage rises.

Austrlaian Associated PressBack to Breaking News

Market Indices