Australian Industry Index rose in February but stayed in contraction

<p>This is a new index from the <a href="https://ift.tt/ZlIoHKP" target="_blank" rel="nofollow">Australian Industry Group</a>. From the AiG description:</p><ul><li>The Australian Industry Index is a monthly index that measures changes in activity in Australia’s industrial sectors. </li><li>It provides diffusion indices which measure rates of changes in the level of industrial activity – expansion, stability or contraction. </li><li>A positive reading indicates the activity is expanding; negative indicates contraction. </li><li>The distance from 0 indicates the strength of the expansion or decline.</li><li>The Australian Industry Index is based on monthly surveys from a national sample of Australian businesses. </li></ul><p>The key findings from the February survey:</p><ul><li>Australian industry was broadly stable in February following a difficult new year period.</li><li>New orders surged back into positive territory, and employment continued its steady rise. Activity levels remain in overall contraction but improved on December/January.</li><li>The input price and wages indicators grew rapidly again, indicating broadening inflationary pressures for industry. The sales price indicator fell, and remains below the input and wages measures.</li><li>Capacity utilisation eased to 82.1% but remains above its long-run average (78.3%).</li></ul><p>We had this from Australia earlier:</p><ul><li><a href="https://ift.tt/SMUwOHp" target="_blank" rel="follow" data-article-link="true">Australian February (final) Manufacturing PMI 50.5 (flash was 50.1, prior 50)</a></li></ul> This article was written by Eamonn Sheridan at www.forexlive.com.

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