Australia's manufacturing industry has been growing for the longest time in a decade
According to the latest data from the Australian Industry Group (AiGroup), Australia's manufacturing sector has been growing for twelve consecutive months, which is also the longest period of sustained growth in Australia in the past decade.
AiGroup data shows that in June this year, the Australian manufacturing performance index increased by 0.8 to 51.8. If the manufacturing performance index is higher than 50, it indicates that the manufacturing industry is expanding. The data also showed that the number of manufacturing orders in June increased by 1.9 to 54.1, which is one of the continuous development of the manufacturing industry. At the same time, in the industry classification index, the manufacturing sales price index also increased by 2.4 to 53, which is the most significant increase since March 2011.
Anis Wellocks, CEO of AiGroup, stated that in the 2015-2016 fiscal year, local manufacturers used business conditions such as the depreciation of the Australian dollar to develop their business plans and enhance their competitiveness in domestic and international markets.
Werlocks also said that the increase in sales prices encouraged part of the manufacturing industry facing the crisis to turn a profit. In recent years, the manufacturing of metal products has been seriously affected by the unfavorable international environment. Since September 2010, the industry has only begun to show growth for the first time. Second, although the recent growth rate of Australian food and beverage manufacturing industry has shown some signs of slowing down, the overall trend of the food and beverage manufacturing industry in the country has remained optimistic. Mechanical equipment manufacturing has seen some declines in the past few years, partly because of the lower level of commercial investment in the economy and the gradual reduction in automatic assembly.
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