Manufacturing activity steadied in July, after contracting in June.

The Australian Industry Group Australian Performance of Manufacturing Index rose to 50.4 in July from 44.2 in June, with the result above the 50 level implying activity in the sector grew marginally.

AiGroup chief executive Innes Willox said the lower Australian dollar helped the sector in July but that machinery and equipment manufacturing is being hit by weakness in mining-related construction and the wind-down of the car industry.

Source: Sky News