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. 19.06.2019
    19.06.2019
    by      In
    Green Distillation Technologies is aiming to bring its first tyre recycling plant at Warren, NSW up to full production following the recent award of an Environmental Protection Licence by the New South Wales EPA.
    The original plant design was for six tyre-processing modules, but to date only one... Read More
  2. 18.06.2019
    18.06.2019
    by      In
    ABB has appointed IPD as the Australian distributor of its electrification products for the 415V switchboard manufacturer channel from July 2019. IPD will also provide ABB low voltage power distribution solutions to major electrical contractors, while all other channels will continue to be serviced... Read More
  3. 18.06.2019
    18.06.2019
    by      In
    Concrete made using industrial waste from coal-fired power stations and steel manufacturing is being used in a world-first road trial in Sydney.
    The City of Sydney is putting the product to the test on a busy inner-city street leading to Sydney Airport, replacing a 30m section of Wyndham St,... Read More
  4. 18.06.2019
    18.06.2019
    by      In
    Inspection of enclosed spaces such as tanks is laborious and expensive, requires extensive planning and following safety regulations, results in significant downtime and poses many potential hazards. Depending on the relevant regulations, most tanks are inspected every five to 10 years.
    Unmanned... Read More