none
none

Manufacturing activity on the rise in May

05-06-2014
by 
in 

Manufacturing activity improved significantly in May, but still remains in negative territory.

The latest Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI) seasonally adjusted index rose 4.4 points to 49.2 to remain just below the 50 point expansion level.

There was a rise in manufacturing production and new orders in the month, despite a dampening in confidence following the Federal Budget.

Those sub-indexes improved to 51.6 points and 55.1 points respectively.  

Manufacturing sales, a newly added sub-series, recorded 53.7 points in May.

Manufacturing employment contracted further in May, as did supplier deliveries, inventories and exports. 

Australian Industry Group Chief Executive, Innes Willox, said: “The manufacturing sector continues to be buffeted by weak household demand, a lack of business confidence and fierce competition in both domestic and export markets heightened by the renewed strength in the Australian dollar.  

“While there was an encouraging rebound in new orders after a particularly weak April, the public reaction to the Federal Budget appears to be weighing negatively on consumer sentiment and business confidence.

“The ongoing uncertainty over a number of budget measures is adding another layer of concern for local manufacturers.”

Related news & editorials

  1. 22.02.2018
    22.02.2018
    by      In
    As part of LAND 400 defence bidding, Australia stands to receive international technology that would allow world-leading ballistic armour to be produced in a local environment. 
    If bidding is sucessful, RUAG Australia will produce the cutting-edge ballistic armour for 225 Australian Army Combat... Read More
  2. 22.02.2018
    22.02.2018
    by      In
    As the sheer scale of corporate and private food waste continues to grow as a political and economic issue, more and more groups are stepping up to show just how much our wasteful practices are costing us. 
    The newly formed Australian Food Cold Chain Council aims to address food wastage by tackling... Read More
  3. 22.02.2018
    22.02.2018
    by      In
    Carnegie Clean Energy has received a grant of AU$3 million from the government of South Australia to build a 2MW battery system near Adelaide.
    The 2MW/500kWh storage project will be installed on the site of the former General Motors Holden manufacturing facility in Elizabeth.
    The grant was awarded... Read More
  4. 22.02.2018
    22.02.2018
    by      In
    Even as large automotive brands pulled out of Australian manufacturing, truck manufacturer Iveco has been pushing into the Australian market, increasingly selling and manufacturing on-shore. 
    Along with Volvo/Mack and Kenworth/DAF, Iveco is one of a few truck manufacturers still building in... Read More