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PMI shows Australian manufacturing finally expanding again

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The Australian PMI has recorded its first positive result since June 2011, recording an overall score of 51.7 points for September.

The seasonally-adjusted Australian Industry Group PMI, which is a survey-based composite index released every month, has 50 as the score that separates expansion from contraction.

September was led by the food, beverage and tobacco sub-sector, which recorded a score of 60.1, its strongest result since March last year. Petroleum, coal, chemicals and rubber products also recorded a strong result (54.1), its best since April 2011.

The metal products sub-sector had a result of 32.5 for the month, and has been in contraction since August 2010.

The overall result is up from 46.4 in August, which, according to AAP when the survey was published, was the 26th straight month of contraction. This was the longest streak in the 21-year history of the PMI.

For a summary of the September PMI, click here.

Image: http://www.pitch.com

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