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The Australian Industry Group (AiG) released its manufacturing purchasing managers' index (PMI) for Australia on the late Thursday evening. The index rose to 58.1 in March from 53.5 in February. It was the highest level since April 2004.
A reading above 50 indicates expansion in the sector, while a reading below 50 indicates contraction in the sector.
Main contributor to the rise was new orders.
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