Australian manufacturing finished 2015 with a bang

The country’s manufacturing sector finished the last half of the year with six consecutive months of growth, according to the Australian Industry Group.

The Ai Group’s PMI survey recorded a result of 51.9 for December, down slightly from November’s 52.5. The continued expansion is the best streak of growth since 2010.

Any result above 50 indicates growth.

Five of eight sub-sectors were in expansionary territory, with those left out being machinery and equipment, metal products, and textiles, clothing, footwear, furniture and other.

The Ai Group’s chief executive, Innes Willox, said the December result capped a strong second-half of 2016, and was a welcome turnaround following a five-year period of extended weakness.

“With export growth solid and production, sales and new orders all on the rise, there is now a very good base from which manufacturers can launch a prosperous 2016,” said Willox in a statement.

“That said, declines in automotive assembly, the ongoing contraction of mining investment and tough conditions in global metals markets continue to constrain the growth of the sector and its role in rebalancing the Australian economy.”

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