none

2018 CONTINUES TO IMPRESS

01-03-2018
by 
in 

February proved to be another strong month for manufacturing, with the Australian Performance of Manufacturing Index continuing to show strong growth. 

The index landed at 57.5 last month, 1.2 down from January's high: while a slight decrease, the industry continues its strong trend of growth both overall and in sub-sectors. 

All seven activity sub-indexes in the Australian PMI expanded in February, marking the fourth such consecutive month. 

Exports in particular showed strong growth, with improved trade to the United States and Asia helping the exports sub-index jump 4.7 points higher to 56.5 points. 

Labour and skill shortages are arising due to an increase in demand. Some participants in the Australian PMI reported increased reliance on overtime to cover higher than usual activity over recent months.

Many manufacturers are now looking to employ more staff but are finding it difficult to find skilled workers for their locations and/or specialisations, so now is a good time to start training. 

Only two sub-industries reported contraction, despite broad trends of manufacturers continuing to report high energy costs eating into margins.

Overall, manufacturing's continued growth makes February 2018 the 17th consecutive month of growth in the manufacturing sector. 

Related news & editorials

  1. 20.11.2018
    20.11.2018
    by      In
    All Australian states and territories recorded an increase in gross state product in 2017-18, according to the latest figures from the Australian Bureau of Statistics. The ACT, Victoria, Queensland and Tasmania exceeded the national gross domestic product growth rate of 2.8%, while New South Wales... Read More
  2. 14.11.2018
    14.11.2018
    by      In
    Although Australia’s small and medium-sized businesses generate employment, drive innovation and boost competition, it has always been difficult for them to get credit finance from banks, especially in the past few months, due to the royal commission into financial services, stricter loan... Read More
  3. 01.11.2018
    01.11.2018
    by      In
    The growth of the manufacturing sector continued through October 2018, with the Ai Group’s Performance of Manufacturing Index holding firm at 58.3, just a tick below September’s rating of 59. The 25th consecutive month of PMI ratings above 50 (indicating growth) comes with further encouraging... Read More
  4. 22.10.2018
    22.10.2018
    by      In
    St.George Banking Group, UNSW Sydney and the Advanced Manufacturing Growth Centre (AMGC) are teaming up to advance Australian research and accelerate the introduction and commercialisation of new manufacturing technologies.
    The alliance brings together three different strands of the national... Read More