Australia August Manufacturing PMI Steady At 52.0 - S&P Global

(RTTNews) - The manufacturing sector in Australia continued to expand at a steady pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 52.0.

That was unchanged from the July reading and it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Central to the latest strengthening of business conditions was a solid and accelerated increase in new orders, the second expansion in as many months. Moreover, the latest rise in new business was the sharpest since January as some panelists reported an improvement in market conditions.

Additionally, new export orders returned to growth following a marginal fall in July. The rise was the second in the past three months, but only slight.