Manufacturing conditions have recovered smartly from a range of negative factors that dogged the sector in the latter part of 2010, a new survey shows.
Business confidence has jumped to a record high, while worries over a strong Australian dollar, rising interest rates and a slowdown in the housing market appear to have receded into the background for now.
The Westpac-Australian Chamber of Commerce and Industry industrial trends survey for the March quarter released today showed its composite index jumping six points to 58.9. At that level, and comfortably above 50, it points to a strong expansion in the manufacturing sector.