was back in contraction in August, with only two sub-sectors seeing growth and
the strong Australian dollar continuing to be a burden.
Australian Industry Group Performance of Manufacturing Index survey has
recorded an overall result of 47.3, down from the previous month’s 50.7.
under 50 indicates contraction.
manufacturing sector retreated from the cusp of expansion in August with
production, sales, new orders and employment all going backwards,” explained
the Ai Group’s chief executive, Innes Willox, in a statement.
were down after a run of three consecutive growth results.
As with the
previous month’s result, Willox noted that exchange rates continued to be a
difficulty for the industry.
exports lifted in August, many respondents expressed ongoing concern about the
persistent strength of the Australian dollar, which is maintaining the intensity
of import competition,” he said.
the full results, click here.