Australia Manufacturing PMI Slows To 56.9 In February - Markit

(RTTNews) - The manufacturing sector in Australia continued to expand in February, albeit at a slower pace, the latest survey from Markit Economics showed on Monday with a manufacturing PMI score of 56.9.

That's down from 57.2 in January, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output growth and order book expansion remained sharp, while supply shortages and shipping delays sent prices to a survey record high.

Optimism improved to a two-year high amid growing hopes of a robust post-COVID economic recovery as the year proceeds, and the release of pent-up demand.