For Australian manufacturing, most of the news in recent years has been negative. However, there are still reasons to believe that the sector will survive.
The Australian dollar went under US 76 cents, for the first time since May 2009, yesterday, as the economy adjusts following the mining boom.
A characteristic feature of economic booms is that those caught up in the excitement believe they will go on forever. Australia’s recent mining boom is no exception. Following the pattern of resource-based economies, a commodity price hike increased our terms of trade without any special effort on our part – adding 15 per cent to our national income over a six year period while the rest of the world languished in recession.
After Bluescope Steel’s improved profit result yesterday, the company’s boss expressed cautious optimism about the environment for Australian manufacturers
The first month of the year has seen a boost for Australia’s manufacturing sector, helped by the dollar’s depreciation, but it remains in contraction.
The Australian dollar hit a five-and-a-half-year low this morning and was trading at US 77.85 cents at 10:30 am.
The Australian dollar went under US 80 cents this morning for the first time in five-and-a-half years.
Engineered wood products company Wesbeam has posted an improved result for the last financial year and said it believes conditions have turned around.
The Australian dollar fell to a five-and-a-half-year low (AEDT) this morning.
There are indications that the effect of “Dutch disease” in Australia is more pronounced than that in Canada.
Kimberly-Clark Australia’s Kleenex brand has resisted competition from cheap private label brands in supermarkets.
The manufacturing sector’s contraction increased slightly in September, with the Australian Industry Group PMI registering an overall result of 46.5.
The Reserve Bank of Australia has suggested that a fixed exchange rate of about $US 60 cents would’ve done little for Australia’s manufacturing sector.
China’s flash PMI result for September surprised some with a reading of 50.5, up from 50.2 in August.
Keech Australia CEO, Herbert Hermens, says the Bendigo-based company is able to successfully compete on a global scale, and others can too.
The Australian dollar hit a six month low this morning, only narrowly staying above $US 90c.
Two proudly Australian industrial companies, Mumme Products and Recoila, share their thoughts on the importance of sourcing from local suppliers.
Manufacturing was back in contraction in August, with only two sub-sectors seeing growth and the strong Australian dollar continuing to be a burden.
The Australian Industry Group PMI showed the sector growing for the first time in nine months.
It is important to develop a strategy for ‘foreign exchange’ as foreign currencies can fluctuate and potentially wipe out any upside to your bottom line.