Australia AiG Performance of Manufacturing Index rose from 53.2 to 55.7 in March. Looking at some details, production dropped -1.2 to 53.4. Employment rose 9l9 to 53.4. New orders rose 5.2 to 65.0. Input prices rose 6.8 to 82.4. Selling prices rose 0.4 to 72.0. Average wages rose 1.7 to 66.6.
Innes Willox, Chief Executive of Ai Group said: “The Australian manufacturing sector grew faster in March as manufacturers added new staff, lifted sales and continued to expand production (although at a slower pace than in February)… Across manufacturing pressures from wages and input prices stepped up while selling prices growth saw manufacturers recover some cost increases in the market. There was an encouraging rise in new orders in March although with labour and input supply constraints growing, manufacturers will be stretched to fill orders in a timely way.”
