Manufacturing eases, new orders fall: PMI

Manufacturing activity eased in October, the mixed results of a survey of Australian companies suggests, with a surge for the food and drinks sector offset by a slump in new orders across the broader industry.

“The overall pace of expansion weakened with a slower rise in employment and a contraction in new orders overshadowing rises in sales and production,” Ai Group chief executive Innes Willox said after the release of Australian Performance of Manufacturing Index on Friday.

The overall PMI was down 3.1 points to 51.6 in October, remaining above the 50-point mark that separates expansion and contraction in activity, after a 1.6 point rise in September.

AAP

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