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The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell 4.8 points to 58.3 in April 2018, indicating a slower – but still buoyant – rate of expansion following March 2018’s record high (readings above 50 indicate expansion in activity, with the distance from 50 indicating the strength of the increase).

“The latest annual Ai Group pre-Budget survey of Australian businesses has found that reducing the high company tax burden is the highest priority for business in the 2018-19 Federal Budget, ahead of infrastructure spending and measures to address current and future skills shortages,” Australian Industry Group Chief Executive, Innes Willox, said.