The manufacturing sector in Australia climbed into expansion in October, the latest survey from the Australian Industry Group showed on Monday with a Performance of Manufacturing Index score of 56.3.
That’s up from 46.7 and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
Respondents across all sectors noted a jump in sales and new orders as a result of pent up demand from the initial activity restrictions. The jump into expansion was driven by large improvements in New South Wales, which rose into expansion, and Victoria, which remained in contraction but improved from a deep contraction in September.
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