Significant increases across the clothing and footwear and transport equipment sub-sectors together with a lift in new orders were leading contributors to another month of expansion in the manufacturing sector, according to the latest Australian Industry Group - PwC Australian Performance of Manufacturing Index (Australian PMI®). The seasonally adjusted index was 51.3 in February - only 0.3 down on the previous month (readings above 50 indicate an expansion in activity with the distance from 50 indicative of the strength of the increase). While new orders picked up in the month (51.7), manufacturers remain cautious ... (full story)