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Manufacturing growth spurt continues

Australia’s manufacturing sector expanded for the ninth consecutive month in June, according to data compiled by the Australian Industry Group (Ai Group).

The Ai Group’s Australian Performance of Manufacturing Index (PMI) climbed 0.2 points to 55 for the month of June.

"The manufacturing sector closed the financial year by extending its unbroken expansionary run to nine months. Sales, exports and production all lifted and growth was widespread across the sector," said Ai Group Chief Executive, Innes Willox.

"Higher activity in the metal products; machinery and equipment; petroleum, coal, chemical and rubber products; and non-metallic mineral products sub-sectors augmented the further growth of the large food & beverages sub-sector.

"While a lift in new orders indicates that momentum may continue in the near-term, concerns about the impacts of further rises in energy prices are accumulating like storm clouds over the sector and particularly for more energy-intensive industries. With policy uncertainties inhibiting investment in energy and in energy-using sectors, it is imperative that sensible and bipartisan resolution be reached as soon as possible."

The index for the large machinery & equipment sub-sector increased by 0.2 points to 60.1 – its highest monthly result since the current sub-index commenced in 2009.

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