Oz manufacturing - heartbeat detected

After two years of declines, Australian manufacturing has begun a recovery, kicked to life by low interest rates and a weaker dollar

The manufacturing sector "nudged growth" in June, according to the latest monthly survey of the sector by the Australian Industry Group.

The key measure from the survey, the Australian Performance of Manufacturing Index (PMI), rose to 49.6, up 5.8 points from May.

That result put the PMI just under the 50-mark that stands between contraction and expansion.

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