-
Australian PMI: Sharp fall in manufacturing activity in April rings true
Manufacturing activity declined sharply in April after having dipped in March following expansions in the first two months of the year. The seasonally adjusted Australian Industry Group-PwC Australian PMI® fell 5.6 points to 43.9. (Readings below 50 indicate a contraction in activity with the distance from 50 indicative of the strength of the decrease.) ■ The decrease in manufacturing activity was largely due to significant contractions in the basic metals; textiles; wood products and furniture; clothing and footwear; and miscellaneous manufactures sub-sectors. ■ Survey respondents remained cautious about the ... (full story)