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Coronavirus slams the brakes on Australian manufacturing
A key indicator for the health of the Australian manufacturing industry has seen better days as coronavirus Covid-19 impacts almost every major sector. The Australian Performance of Manufacturing Index (Australian PMI) fell 1.1 points to 44.3 points in February, the first full month of the year to experience the full force of the Covid-19 outbreak. Results below 50 points on the Australian PMI indicate contraction with lower results indicating a faster contraction in the month. Today's announcement from the Australian PMI marked four consecutive months of contraction in the Australian manufacturing sector. The last ... (full story)