AIG Performance of Manufacturing index for August,
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- Back into negative territory this month
- Index decreased by 3.4 points, to 47.3 points in August
- Indicating a contraction in conditions across the manufacturing sector
- 3-month moving average also moved lower in August, to 48.9 points
- “Many respondents expressed ongoing concern about the persistent strength of the Australian dollar
- Manufacturers remain cautious about the outlook and continue to focus on reining in their costs, as they battle very weak trading conditions across most sub-sectors”
- Among the eight manufacturing sub-sectors only the large food and beverages (53.8 points) and the smaller wood and paper products (66.3 points) sub-sectors expanded in August
- All other sub-sectors contracted (readings below 50 points)
- All of the five activity sub-indexes, as well as the sales sub-index, were below 50 points in August,
- Manufacturing exports improved in August … However, this month’s expansion in exports was limited to the food, beverages and tobacco sub-sector and a handful of businesses in other sub-sectors
