(MENAFN) The Australian Industry Group (Ai Group) said that the manufacturing contraction in the country slowed down, Xinhua reported
The Performance of Manufacturing Index (PMI) increased 1.9 points up to 48.6, but still below 50 marking contraction
The PMI is based on five indicators for production, new orders, deliveries, inventories and employment
Ai Group Chief Executive said: "While an easing in the pace of contraction and the lift in production in February are welcome, overall conditions in manufacturing continue to reflect the intense pressures from the strong dollar, high energy costs and the legacy of a long period of low productivity growth.
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