Australia Manufacturing PMI Ticks Higher In April - S&P Global

(RTTNews) - The manufacturing sector in Australia continued to expand in April, and at a faster pace, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 51.3.

That's up from 51.0 in March and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The above-50.0 reading for the headline PMI was largely reflective of a substantial lengthening of suppliers' delivery times, the index for which is inverted in the PMI calculation to reflect the fact that longer lead times are typically associated with pressure on capacity due to improving demand.

A rise in stocks of purchases also contributed to the positive PMI figure, but the other constituents of the headline index (New Orders, Output and Employment) were in negative territory.