none

Manufacturing set to boom: report

31-08-2010
by 
in 
Manufacturing set to boom: report

Manufacturing will bounce back after languishing in the shadow of the mining investment boom, according to a new report.

The Grattan Institute report says that far from being permanently damaged, industries sensitive to the exchange rate, such as manufacturing, tourism, education and agriculture, "survived the boom in reasonable shape."

Titled The Mining Boom: Impacts and Prospects, the report paints an optimistic picture for the future of Australian industry.

The report notes that overall, the mining boom has been good for Australia.

“It helped the country weather the global financial crisis. It helped fund major government initiatives. Most Australians have prospered.”

Fears that the boom has benefited mining states, companies and workers, but left the rest of the country worse off are unfounded, the report says.

And fears that the high dollar has caused permanent damage to trade-exposed industries such as manufacturing, tourism and international education are also wide of the mark.

“Benefits have been spread across the country as the boom helped to offset the impacts of globalisation and technological change on lower-skilled workers, the report says.

“The boom has made life difficult for industries that compete internationally. Yet history suggests that manufacturing and other trade-exposed industries will bounce back quickly after the boom.” 

Related news & editorials

  1. 19.02.2019
    19.02.2019
    by      In
    The adoption of artificial intelligence is rapidly growing in the workplace; however, to take full advantage of the opportunities, businesses need to overcome lingering doubts from their customers and employees, according to new research from Genpact, a global professional services firm focused on... Read More
  2. 19.02.2019
    19.02.2019
    by      In
    The 2018 needles in strawberries episode served as a warning to all of Australian industry: failure to take security seriously can have disastrous consequences. However, it also served to highlight just how vulnerable manufacturing industry is to malicious acts, whether by disgruntled employees or... Read More
  3. 19.02.2019
    19.02.2019
    by      In
    MachineryHouse has continued its expansion across the ditch with the opening of a second branch in New Zealand. The new Christchurch MachineryHouse joins the existing branch in Auckland, and will greatly improve the service to customers all over the South Island.
    The new retail operation opened in... Read More
  4. 19.02.2019
    19.02.2019
    by      In
    element14.com, the world’s largest electronic design community, has launched the ‘Pi-Casso’ design challenge, encouraging its members to think outside the frame and create digital artworks that showcase the versatility of the Raspberry Pi 3 Model B+, either by using the computing power of Pi as the... Read More