May 1, 2019
The Australian PMI has been stable or positive (readings above 50 points indicate expansion in activity, with the distance from 50 indicating the strength of the increase) since August 2016, a period of 32 consecutive months. Four of the six manufacturing sectors expanded in April (according to trend data), led by food & beverages (up 1.6 points to 61.8). Only machinery & equipment (down 1.4 points to 44.6) and metal products (down 0.8 points to 44.7) remained in contraction. “Australia’s manufacturing industry expanded in April with production, sales, exports and new orders all gaining ground,” said Ai Group Chief Executive Innes Willox. “Advances were most marked in the food & beverages sector, which is the largest component of domestic manufacturing, with support from chemicals manufacturers and a range of smaller sub-sectors including wood products, clothing & textiles, paper and printing. “Both the metal products and machinery & equipment sectors contracted further in April, weighed down…
