none

AUSTRALIAN MANUFACTURING FIGURES SHOW SUSTAINED GROWTH

01-06-2017
by 
in 

The Ai Group’s Australian Performance of Manufacturing Index has registered its eighth consecutive month of growth, with a figure of 54.8 in May. And while this is a slower rate of growth than in recent months, the average figure for the past six months still comes in at a robust 56.2.

Each of the seven activity subindexes in the Australian PMI expanded during May - albeit at a reduced rate from the previous month. Importantly, new orders remained high at 58.1, pointing to continuing expansion. However, exports slowed to 52.0, which may be some cause for concern.

Interestingly, the wages subindex rose by 3.0 to a high of 61.4 in May, confounding popular belief of low wage growth in Australia.

According to Ai Group Chief Executive, Innes Willox: "Regardless of the shrinking local auto industry and generally low business investment, the important machinery and equipment manufacturing subsector again built on what has been an impressive recovery after an extended slump.”

“Less positively, slower local retail conditions are having some negative impacts for manufacturers and elevated input costs are an ongoing challenge for everyone, particularly due to rising electricity and gas costs," added Willox.

Related news & editorials

  1. 20.04.2018
    20.04.2018
    by      In
    There will be a strong Australian flavour to the Siemens stand at this year’s Hannover Messe, which begins on the 23rd April. A group group of more than 100 people will be on hand, including members of the Prime Minister’s Industry 4.0 Taskforce, customers and stakeholders from a range of... Read More
  2. 19.04.2018
    19.04.2018
    by      In
    In a move welcomed by industry leaders and the WA Government, Chevron has greenlit an expansion of the Gorgon liquefied natural gas (LNG) project offshore Western Australia’s north-west coast, promising to deliver yet more jobs. 
    The Gorgon gas project, situated about 150km north of Onslow off the... Read More
  3. 19.04.2018
    19.04.2018
    by      In
    As nations around the globe search for new ways of handling waste following China’s decision to stop processing the world’s rubbish, a South Australian man is searching for investors to help build a commercial system that converts waste plastic into biogas.
    The extension of China’s ‘Operation Green... Read More
  4. 17.04.2018
    17.04.2018
    by      In
    Standing still is never an option in the media, and that is why we’ve given the Industry Update website a fresh new look with pages that are easier to navigate as well as being easy on the eye.
    According to Publisher Scott Filby: “Like any website, ours has grown organically over the years, gaining... Read More