Manufacturing weakened in April

Difficulties in the manufacturing sector continued last month, with the Australian Industry Group PMI slipping 3.1 points to 44.8.

The
seasonally-adjusted, survey-based measure of sentiment is released every month.
A result above 50 indicates growth, and below it contraction.

The Ai Group called the result for April a “sharp fall”, and the PMI has remained in negative
territory all year.

Ai Group CEO
Innes Willox said that there was an “ongoing weakness” in the industry and
sectors of the economy linked with it.

“The immediate
outlook for the sector worsened with respondents to the Australian
PMI® survey citing a lack of new orders even after
allowing for the usual run of seasonal holidays in April,” he said in a
statement.

The new orders
sub-index was down 10.5 points to 41.8, with production (down 6.6 points) and
employment (down 1.4 points) also in decline for the month.

Export
continued to be a difficulty for the country’s manufacturers, with resurgent
dollar one reason behind this.