none

SEPTEMBER SEES MANUFACTURING STABILISE

04-10-2016
by 
in 

After a long-unprecedented 12-month expansion in Manufacturing, August saw the first serious contraction of the industry in years.

This September, however, saw the industry employment figures and Australian Performance of Manufacturing Index (PMI) stabilize, with the PMI indicating almost no contraction or expansion.

Ai Group Chief Executive Innes Willox, said that the manufacturing sector “avoided a deeper fall in September after the sharp drop recorded in August.”

According to Ai Group, the major stabilizing factor was the food and beverages sub-sector, which swung back towards growth and provided a counterweight to other, less positive areas.

“With business investment the major missing ingredient to a more comprehensive lift in domestic activity, there is a clear need for policy action in this area,” said Mr Willox.

The Figures

A PMI of 50 indicates no growth or reduction; over 50 would indicate growth, fewer than 50 would indicate reduction.

Manufacturing at large returned to a PMI of 49.8. The food and beverages sub-sector reached 52.8, as did the large machinery and equipment sub-sector.

Sectors that had not contracted during August continued to expand, including printing and recorded media (sitting at 62.8), metal products (51.3), and petroleum and chemical products (52.7).

Many key indexes that hit a low in August have returned to growth, including production, deliveries, and sales.

Related news & editorials

  1. 20.08.2019
    20.08.2019
    by      In
    The first electric cargo van assembled by the Australian Clean Energy Electric Vehicle Group (ACE-EV) has been revealed at the Tonsley Innovation District in Adelaide’s southern suburbs.
    The venue was significant, as the innovation hub is located in the former Mitsubishi Motors main assembly... Read More
  2. 20.08.2019
    20.08.2019
    by      In
    Molycop, incorporating Comsteel, has signed a long-term Power Purchase Agreement with energy retailer Flow Power. It runs to 31st December 2030 and is backed by offtake agreements with the Bomen Solar Farm and the Sapphire Wind Farm, both located in regional NSW. The Sapphire Wind Farm between Glen... Read More
  3. 20.08.2019
    20.08.2019
    by      In
    Materials scientists from Deakin University’s Institute for Frontier Materials (IFM) will address representatives of Victoria’s waste management sector about their innovative approach to tackling the global recycling crisis at an all-day circular economy conference at the university’s Waurn Ponds (... Read More
  4. 20.08.2019
    20.08.2019
    by      In
    The Clean Energy Council has teamed up with Reed Exhibitions Australia to launch a new industry exhibition focusing on the latest renewable energy and energy efficiency technology. The Energy Next show will be held for the first time on 14th and 15th July 2020 at the International Convention Centre... Read More