SYDNEY, April 3 (Reuters) - Australian manufacturers reported continued expansion in activity and new orders in March with hiring strong and signs of a pick up in price pressures, two separate surveys showed on Tuesday.
The pace of growth was markedly different depending on the survey, with one surging to a record high while the other slowed to a six-month low.
On the softer side, the CBA-Markit Purchasing Managers Index (PMI) of activity dipped to 54.3 in March, from 55.6 in February, though that remained above the 50 boundary that separates growth from contraction.
In contrast, the Australian Industry Group's performance of manufacturing index jumped 5.6 points to 63.1, the highest reading since the survey began in 1992.
Both surveys found strength in new orders with the AIG measure soaring to another record peak above 66.0.
The demand for labour also remained healthy as factories expanded to meet new orders and increasingly ran into capacity pressures, pointing to the need for more investment.
"Rapidly rising input prices – for oil, steel and utilities – are adding to potential inflation pressures," added CBA chief economist Michael Blythe.
"Manufacturers appear to be taking advantage of firm demand conditions to pass on these input price rises. Output prices expanded at the fastest pace since mid-2017."