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Australian PMI: Manufacturing prospects lift in August
The Australian manufacturing sector expanded for a second straight month in August, with the Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) increasing by 1.3 points to 51.7 (readings above 50 indicate expansion in activity, the distance from 50 indicating the strength of the increase). Four of the seven activity sub-indexes expanded in August: new orders (up 3.0 points to 52.9) and manufacturing employment (up 3.7 points to 51.3) both returned to positive territory after two months in contraction; production expanded for a second month, if at a slower pace (down 3.0 points ... (full story)