by Sun, 31 Oct 2010 23:34:00 +0100
Australia: AiG Performance of Mfg Index rises to 49.4 in October
FXstreet.com (Córdoba) - The AiG Performance of Manufacturing Index grew by 2.1 points from 47.3 the previous month to reach 49.4 in October 2010, still below the 50-point level separating expansion from contraction. This is the second decrease in a row.
"The weakness in the October result was driven largely by the steep decline in activity in the textiles sub-sector, by more moderate contractions in the food & beverages and wood products & furniture sub-sectors and by continuing weakness in new orders", said the Australian Industry Group today.
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