According to new figures, the Australian manufacturing sector grew at the fastest rate for more than two years in February.

A survey carried out by Australian Industry Group (AIG) and PricewaterhouseCoopers shows that the manufacturing index rose from 51 points in January to 53.8 points in February.

The strongest manufacturing growth was experienced within the textile, paper and publishing sectors.

“While there is a lot of ground lost over the past two years still to be recovered, overall, conditions do appear to be improving,” AIG group chief executive officer, Heather Ridout, said. “The combination of rising new orders and production augurs well for the industry in coming months.”

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