Australia's Weak manufacturing sector gathers some strength: survey

From news.com.au

AUSTRALIA'S manufacturing sector rose to a seven-month high in May, although general conditions remain consistent with a contraction in the economy. The Australian Industry Group-PricewaterhouseCoopers Australian Performance of Manufacturing Index rose 7.4 points in May from April to 37.5. While the index remains below the 50-point mark separating expansion from contraction, it is now higher than it has been for the past seven months. "The lift in the Australian PMI in May brings it into much closer alignment with the direction and strength of global PMIs," said Heather Ridout, AIG chief executive. "The ... (full story)