none

Positive signs for Aussie manufacturing

31-08-2010
by 
in 

 

 

Innes Willox … ‘challenging’

The rate of contraction in the manufacturing sector eased in August, with expansion in three key sectors, according to the latest industry data.

The Australian Industry Group – PwC Australian Performance of Manufacturing Index (Australian PMI) rose 5.0 points to 45.3 in the month (readings below 50 indicate a contraction in activity with the distance from 50 indicative of the strength of the decrease).

Manufacturing production and employment improved in the month although both remain in the red at 43.1 and 41.2 respectively. 

Three of the eleven sub-sectors expanded in August – miscellaneous manufactures (62.3), food & beverages (55.4) and wood products & furniture (54.1).

"Manufacturing conditions continue to be very challenging across the sector with the high dollar and weakness in demand in the domestic and export markets weighing on growth, said Australian Industry Group Chief Executive, Innes Willox. 

“There are some encouraging signs in the August Australian PMI with the production sub-index lifting and the forward-looking new orders sub-index rising strongly, he said.  “Disappointingly, employment levels fell again in August and have now been in retreat for five consecutive months."

PwC Partner - Economics and Policy, Jeremy Thorpe, said: "Manufacturing remains in a contractionary state in Australia, as it does in China, the Eurozone, the US and Japan. This poor outlook for Australian manufacturing is driven by the economic fundamentals noted in the federal government's Manufacturing Taskforce report. Unfortunately, these are universal challenges without simple solutions," Mr Thorpe said.

Related news & editorials

  1. 25.09.2018
    25.09.2018
    by      In
    Energy Efficiency Expo is a new annual trade exhibition and conference dedicated to energy productivity and affordability. Organised by Reed Exhibitions Australia in partnership with the Energy Efficiency Council, the new event will be held for the first time in October 2019 at the Melbourne... Read More
  2. 25.09.2018
    25.09.2018
    by      In
    This week has seen the opening of a unique facility at Deakin University dedicated to advanced metal development and 3D roll forming. The $1.5 million IFM Flexible Forming Facility has been set up as part of Deakin’s Institute for Frontier Materials (IFM), supported a $280,000 grant from the... Read More
  3. 24.09.2018
    24.09.2018
    by      In
    CSIRO is shooting for the Moon this week at the 18th Australian Space Research Conference on the Gold Coast with the launch of an industry roadmap designed to encourage the development of the technological expertise to help to establish a human base on the Moon.
    The report, “Space: A roadmap for... Read More
  4. 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