Good signs of growth

AUSTRALIA’S manufacturing sector has expanded for a 10th consecutive month, industry research suggests.

The Australian Industry Group’s performance of manufacturing index increased 1 point to 56 in July, remaining above the 50-point level that indicates activity is expanding.

Growth in production, sales, exports and employment was helping mitigate the growing threats from energy price rises and a higher Australian dollar, Ai Group chief Innes Willox said.

According to the latest reading from the Australian Industry Group, six of the seven subindexes covered by the survey improved in July.

Mr Willox said the expansion last month was broadbased, “contributing positively to the rebalancing of the broader economy”.