The Australian Economic Story Keeps Getting Better

Australia beach whale kitesREUTERS/David GreyLarge whale-shaped kites and others fly above a large crowd gathered for the Festival of the Winds on Sydney’s Bondi Beach September 8, 2013.

Australia October
manufacturing PMIjumped to 53.2 in October from
51.7 in September.

Any reading above 50 signals growth.

Prior to September, the last time we saw an above-50 reading was in June 2011.

The production sub-index surged to 54.5 from 49.9.

The troubled exports index improved to 34.1 from 31.4.

The mining-driven economy has been struggling to shake off the slow down in the emerging markets.

Policymakers have been fighting recessionary forces with aggressive monetary policy, which appears to be working.

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