none

ECONOMIC STATISTICS HINT AT CONTINUING RECOVERY

01-03-2017
by 
in 

The latest set of economic statistics paint a positive picture for both the Australian economy in general and manufacturing in particular.

Fears of a “technical” recession (two consecutive contracting quarters) have been proved groundless by the release of the latest figures from the Bureau of Statistics, showing that the economy grew by 1.1% in the December quarter. (This followed a contraction in the September quarter.)

According to the ABS, rising household spending (0.5 percentage points) and public infrastructure investment (0.3 percentage points) were the two major contributors to the nation's growth.

On the manufacturing front, the picture is even brighter, with the Australian Industry Group’s Performance of Manufacturing Index rising to a 15 year high of 59.3 in February, offering the prospect of further gains for the economy as a whole.

Not everything in the garden is rosy, though. While the highest manufacturing PMI since May 2002 comes on the back of four previous months of growth, some of the underlying figures suggest that the growth may not be sustainable.

For example, while the selling prices subindex edged higher (up to 53.7), growth in input costs and wages (down to 58.8) continues to outpace selling prices.

Related news & editorials

  1. 15.02.2019
    15.02.2019
    by      In
    The Australian Made Campaign is doing its bit to help one of its licensees to find a local contract manufacturer. The licensee is frank green, a company that markets reusable coffee cups in Australia. And while the company currently produces all its plastic reusable cup products in Australia, it... Read More
  2. 14.02.2019
    14.02.2019
    by      In
    Boker’s, the iconic US manufacturer of precision metal stampings, washers, spacers and shims, celebrates its 100th anniversary in 2019. The year will also see the opening of a new manufacturing facility and a fresh commitment to serve international markets, including Australia.
    The company was... Read More
  3. 14.02.2019
    14.02.2019
    by      In
    Universal Robots has appointed automation industry veteran Peter Hern to the role of ANZ Country Manager.
    Hern combines extensive experience in the technology, automation and robotics industries with local knowledge of ANZ manufacturing. In his new role he will be responsible for customer support,... Read More
  4. 13.02.2019
    13.02.2019
    by      In
    With the 2019 show set to be the biggest Austech 2019 yet, organiser AMTIL has come up with a novel approach to help visitors optimise their time at the event.
    Featuring all of the key machine tool dealers, all under the one roof, Austech 2019 will showcase a vast array of state-of-the-art... Read More