Australian manufacturing contracted in December but US/UK continue growth

Posted on 6 Jan 2015 by Tim Brown
The Lion Pride production line. The Australian Food and Beverage manufacturing has continued to show strength despite a contraction in overall manufacturing. Image courtesy of Lion

The Australian Performance of Manufacturing Index (Australian PMI) fell by 3.2 points to 46.9 in December, back below the 50-point level which signifies a contraction.

Only two of the seven activity sub-indexes – those for employment (up 4.7 points to 52.5) and exports (up 2.9 points to 51.0) – were above 50 points this month. The new orders sub-index fell sharply (down 10.6 points to 43.7) following two months of mild expansion, reflecting slower growth or a decline in new…

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