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Australia manufacturing PMI holds at 52.0 as orders improve

The survey showed new orders rising at the fastest pace since January, and export orders returning to growth after a marginal dip in July.

Reported · Written up by our desk · Major Pairs

Australia’s manufacturing sector continued a modest expansion in August, with the PMI Manufacturing final reading unchanged at 52.0, according to Action Forex.

The report said underlying demand improved, with new orders increasing at the fastest pace since January, and new export orders returning to growth after a marginal decline in July.

Action Forex also noted that business confidence climbed for a fourth consecutive month, reaching the highest level since February.

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