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. 20.09.2018
    20.09.2018
    by      In
    Control Logic has set its sights on expansion, with a new leadership team incorporating key roles in products and marketing, sales and development, and operations and services. The move aims to increase the company’s skill set and focus to drive innovation and expand the company’s expertise and... Read More
  2. 19.09.2018
    19.09.2018
    by      In
    The Australian Made Campaign is providing some valuable support for the nation’s furniture manufacturers with its latest initiative, which urges local buyers to ‘take comfort in their purchase’ and choose genuine Aussie furniture, bedding and furnishings this spring.
    According to Australian Made... Read More
  3. 12.09.2018
    12.09.2018
    by      In
    Siemens has unveiled its new manufacturing facility in Yatala (Queensland), which has been set up to support the growing global demand for the locally developed Fusesaver medium-voltage circuit breaker.
    The new factory is part of an ongoing $25 million investment in manufacturing and research of... Read More
  4. 11.09.2018
    11.09.2018
    by      In
    APS Industrial has relocated its Melbourne base into an all-new 4500m2 head office and national distribution centre in Rowville. The new facility includes an interactive product showcase room and state of the art conference facility.
    According to APS Industrial MD David Hegarty, “Since our launch... Read More