The manufacturing sector in Australia continued to expand in April, and at a faster pace, the latest S&P Global survey showed on Monday with a manufacturing PMI score of 58.8.
That’s up from 57.7 in March and is moving even further above the 50 expansion or contraction line that separates expansion from contraction. This is the twenty-third consecutive month of growth for the sector.
Manufacturing output in Australia grew at a faster pace in April, supported by strong growth in new orders as improving market conditions supported an increase in demand. Foreign demand saw renewed growth after three consecutive months of contraction, as the easing of border restrictions in some trading partner countries supported the change.
Due to increased demand and production, employment levels rose at a faster pace in April. That said, panelists continued to report difficulties in acquiring skilled labour.
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