29 JULY 2020 IndustryEdge
At a headline level, news of the expansion of the Australian manufacturing sector will always be well received. It is good news, but it is also patchy news, because as we well know, not all sectors are faring as well as others.
The Australian Performance of Manufacturing Index (Australia PMI®) lifted 9.9 points in May, to reach 51.5 points, meaning the sector recovered somewhat from the disastrous performance in April. The PMI is a diffusion index, with any result above 50.0 meaning a sector expanded and any result below it, meaning it contracted. The further away from 50.0, the bigger the expansion or contraction. Read more