The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI® ) fell by 3.6 points to 45.4 points in February (seasonally adjusted). This indicated a third month of contraction in conditions (readings below 50 points indicate contraction) across the manufacturing sector following a brief stabilisation in November 2014. § The Australian PMI® typically ‘leads’ ABS data for manufacturing output by around 3 months. Recent results from the Australian PMI® suggest manufacturing output (measured as ‘value added’ by the ABS) is likely to be broadly flat in Q4 2014 and so far in 2015. § ... (full story)