Australia Manufacturing Sector Slides Deeper Into Contraction

(RTTNews) - Australia's manufacturing sector contracted at an accelerated pace in February, the Australian Industry Group said on Monday with a seasonally adjusted purchasing manager's index score of 45.4.

That was down sharply from the 49.0 reading in January, and it moved further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Among the individual components of the survey, manufacturing production, manufacturing sales, supplier deliveries, stock levels and employment all contracted in February.

Manufacturing exports expanded last month, the data showed.