March 2021 - OVERVIEW
Manufacturing races into Autumn
The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) increased by a further 1.1 points to 59.9 points (seasonally adjusted), indicating a stronger pace of expansion in March 2021. This was the highest monthly result for the Australian PMI® since March 2018 and a sixth consecutive month of strong recovery, after the severe disruptions of COVID-19 in Q2 of 2020. Results above 50 points indicate expansion, with higher results indicating a faster rate of expansion.
All six manufacturing sectors included in the Australian PMI® reported positive trading conditions (results over 50 points, trend) during March, with especially buoyant conditions reported by manufacturers in machinery & equipment and ‘textiles clothing, footwear, paper & printing products’.
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