Australia AiG Performance of Manufacturing Index jumped to 53.7 in March, up from 44.3. The reading indicates a return to growth after four months of contraction in the sector.
AiG said: “This somewhat surprising expansion – in the midst of the escalating COVID-19 pandemic and emerging recession – is almost entirely due to a huge surge in demand for manufactured food, groceries and personal care items, as shoppers stock up on processed food, toilet paper, cleaning products and other household essentials”.
Also from Australia, building permits rose 19.9% mom in February, much higher than expectation of 4.5% mom.
