AIG Performance of Manufacturing index for June comes in at 48.9 vs. 49.2 in May … a small decline and still in contraction
- Sector-wide contraction for eight consecutive months
- Manufacturing production (49.4) and sales (46.7) both moved into the red in June
- The new orders sub-index – although still expanding at 51.2 – was 3.9 points weaker (Many respondents to this month’s survey reported softening sales of locally made products due to the higher level of the Australian dollar)
Australian Industry Group Chief Executive, Innes Willox, said:
- “Activity in the manufacturing sector slipped in June with production and sales both lower and employment continuing to decline.
