Australia AiG Performance of Manufacturing Index rose 1.5 to 54.0 in February. That’s the best monthly result since Ocotber 2018 and signals a better month of recovery following and “unreasonably slow summer”. While it’s still the 30th month of expansion, the trend has suggested “slowing growth rates since its recent peak in March 2018”.
Also, AiG noted that “conditions appear to be diverging” acrtoss the larger manufacturing sectors and their main locations. Three of the six sectors expanded, one was stable and two contracted. And, “the downturn in housing construction is already affecting some sectors, as is the uncertainty of impending elections”.
