Australia manufacturing activity rebounds in August-surveys
SYDNEY, Sept 3 (Reuters) - Australian manufacturers reported
that activity picked up in August after a soft July, with new
orders and exports rebounding in a positive sign for employment
and economic growth.
The Commonwealth Bank/Markit purchasing managers index
firmed to 53.2 in August, from 52.4 in July, with sales and new
orders both improving. A result above 50.0 represents expansion.
Another survey by the Australian Industry Group (AIG) found
its main activity index rebounded by 4.7 points to 56.7 in
August, led by a jump in export orders.
Both surveys showed some pickup in price pressures, partly
because of higher oil and raw material costs. Drought conditions
on the eastern coast of Australia were also having an impact.
"Food and beverage manufacturers are reporting disrupted
supply and higher prices of raw agricultural inputs, while
manufacturers operating in the metals and machinery and
equipment sub-sectors who sell to the agricultural sector or its
supply chain are reporting reduced sales," the AIG reported.
(Reporting by Wayne Cole; editing by Richard Pullin)
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