Australian manufacturing growth moderated in August as output and new orders expanded at a slower pace. That's despite higher employment after a dip in July.
Australia's Performance of Manufacturing Index, or PMI, fell nearly 3 points to 51.7 in August. But still, it remained above the 50 point level that separates expansion from contraction. It was the eighth consecutive month of expansion, thanks partly to the booming construction and mining sectors.
Experts say there are also signs of life returning to consumer-sensitive sectors. Demand may be picking up, supported by the healthy performance of the labor market over the past year.