The manufacturing sector in Australia continued to expand in March, albeit at a slightly slower pace, the latest survey from Markit Economic showed on Thursday with a seasonally adjusted manufacturing PMI score of 56.8.
That’s down marginally from 56.9 in February, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, strong output and order book growth was sustained despite subdued exports. Supply constraints fueled a survey record rise in input costs.
Business expectations for the year ahead remained buoyant but slipped to the lowest since last July, reflecting worries about the ongoing impact of COVID-19 and export malaise.