2017.11.0100:46:00UTC+00Australia Manufacturing Growth Moderates In October: AiG

The manufacturing sector in Australia expanded for the thirteenth successive month in October, but the rate of growth eased since September, the latest survey from the Australian Industry Group revealed on Wednesday.

The Performance of Manufacturing Index, or PMI, dropped to 51.1 in October from 54.2 in September. However, any reading above 50 indicates expansion in the sector.

Moreover, the latest rate of growth was the weakest since January.

Among components, new orders and employment, supplier deliveries all increased in October, while production decline sharply.