Australian January manufacturing PMI rises to 51.6

SYDNEY (MarketWatch)
The Australian Industry Group - PwC Australian performance of manufacturing index rose 1.4 points to 51.6 in January, according to data out Wednesday
The increase was largely due to a rise in the delivery of inputs and a rise in inventories of finished goods, according to the survey
 "The growth was underpinned by expansion in key sub-sectors such as food & beverages and transport equipment," said Australian Industry Group Chief Executive, Heather Ridout
"Respondents cited ongoing global economic uncertainty and strong overseas competition as factors inhibiting growth in January," she added