The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) rose by 4.8 points to 53.2 points in February 2022 (seasonally adjusted), indicating expanding conditions. The result largely reflects mild improvements and a rebound into positive territory after a sharp decline recorded in the December 2021-January 2022 report. This indicates that Australian manufacturing is recovering from the temporary disruptions
in output, sales and activity during the summer holiday months due to widespread infections, labour shortages and supply chain disruptions. Results above 50 points indicate expansion, with higher results indicating a faster rate of expansion.