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Slow growth for manufacturing

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Weak consumer spending, continued decline in exports and a build-up in inventories have underpinned a further slowing in manufacturing production growth in the June quarter, with the Australian Industry Group - PricewaterhouseCoopers quarterly Survey of Australian Manufacturing again recording its weakest result in four years.

While nine of twelve sectors surveyed reported continued expansion, the net balance of firms reporting production increases fell to +7% in the June quarter, from +12% in the previous quarter.

The proportion of firms who nominated stronger demand as the major positive impact on their business fell sharply from 19% to 11%.

Equally concerning was the lower productivity outcomes being reported, with the number of firms reporting improved productivity declining from 9% to 5%.

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