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. 18.07.2018
    18.07.2018
    by      In
    Australia’s only dedicated trade event for the electronics industry will this year be held in Sydney in September. Electronex – The Electronics Design and Assembly Expo will be staged on 5th and 6th September at Rosehill Gardens Event Centre with free parking for visitors.
    The expo is now in its... Read More
  2. 18.07.2018
    18.07.2018
    by      In
    Australia could lead the world in the re-use and recycling of lithium-ion batteries, according to a new CSIRO report. The report, “Lithium battery recycling in Australia”, says that the current low battery recycling rates can be overcome through better understanding of the importance of recycling,... Read More
  3. 18.07.2018
    18.07.2018
    by      In
    Australia’s electric vehicle charging specialist Tritium has received an order for the first 12 Veefil-RT 50kW DC fast chargers to form a new electric car charging network across Hungary.
    The order is from NKM Mobilitas, a subsidiary of the Hungarian state utilities provider, which plans to install... Read More
  4. 16.07.2018
    16.07.2018
    by      In
    NSW-based Ranger Lifting is set to mark 20 years in business at a brand new facility in Prestons, outside Sydney on Saturday 22nd September 2018.
    The lifting and rigging equipment supplier, which also recently opened a site in Melbourne, will combine the grand opening of its new headquarters, 40km... Read More