Skip to content
Subscriber Only

Australia Manufacturing Gauge Fell to 3 1/2-Year Low in January

A gauge of Australian manufacturing fell to a 3 1/2-year low in January as the sustained strength of the currency outweighed the central bank’s reduction in interest rates to a half-century low.

The manufacturing index dropped 4.1 points to 40.2 last month, the lowest level since June 2009, the Australian Industry Group said in a survey released today. The last reading above 50, the divide between expansion and contraction, was in February 2012.