Mumbai, Feb. 20 -- The manufacturing sector in Australia continued to expand in February, albeit at a slower pace, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 51.5.
That's down from 52.3 in January, although it remain above the boom-or-bust line of 50 that separates expansion from contraction.
According to anecdotal evidence, stability in customer bases, new contract wins and a general pick-up in demand conditions underpinned a nineteenth consecutive monthly improvement in sales performances across the Australian private sector. Growth in overall new business slowed from January's 45-month high, but was still solid, nonetheless.
The survey also showed that the services PMI dropped to 52.2 in Feb...