Manufacturing on the move

VICTORIA’S manufacturing sector was the strongest in Australia during June and its future is looking up.
Performance of Manufacturing Index (PMI) figures revealed that the state’s performance rose 18.1 points in June, compared to a national 5.8 point increase.
Manufacturing Minister David Hodgett said Victoria’s total PMI for June stood at 49.7 points – just 0.3 points below the mark separating contraction from expansion.
A PMI reading above 50 points indicates manufacturing is generally expanding, while below 50 indicates a decline.
The Australian Industry Group (AiG) calculates the monthly index and said some manufacturers had reported stronger pick-up in local orders, above the usual end of financial year demand.
Victoria’s rise was the largest monthly improvement in the index among the states, with indexes for New South Wales and Western Australia deteriorating slightly.