• 7 minutes Get First Access To The Oilprice App!
  • 11 minutes Japanese Refiners Load First Iran Oil Cargo Since U.S. Sanctions
  • 13 minutes Oil prices forecast
  • 17 minutes Renewables in US Set for Fast Growth
  • 2 hours Socialists want to exorcise the O&G demon by 2030
  • 17 hours Chinese FDI in U.S. Drops 90%: America's Clueless Tech Entrepreneurs
  • 17 hours Oceans "Under Fire" Of Plastic Trash
  • 1 day Is Natural Gas Renewable? I say yes it is.
  • 12 hours Cheermongering about O&G in 2019
  • 12 hours Good Marriage And Bad Divorce: Germany's Merkel Wants Britain and EU To Divorce On Good Terms
  • 2 days Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 2 days Making Fun of EV Owners: ICE-ing Trend?
  • 18 hours Duterte's New Madness: Philippine Senators Oppose President's Push To Lower Criminal Age To 9
  • 3 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 1 day Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 1 day North Sea Rocks Could Store Months Of Renewable Energy
  • 2 days Orphan Wells

The Collapse of Australia’s Manufacturing Sector

Australia fundamentals deteriorate rapidly as evidenced by a collapse in the PMI Manufacturing Index in April.

Key Findings

•    Manufacturing activity contracted significantly in April as conditions weakened amid a strong Australian dollar, intense import competition, high energy costs and weak local confidence.
•    The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell 7.7 points to 36.7 on a seasonally adjusted basis. (Readings below 50 indicate a contraction in activity with the distance from 50 indicative of the strength of the decrease.)
•    This is the lowest level the Australian PMI® has recorded since May 2009, with many of the key sub-indexes also dropping to levels not seen since 2009. The three-month moving average in April fell to 42.2 points from 43.4 points in March.
•    Contractions in activity were recorded in seven out of the eight manufacturing sub-sectors. Significant contractions were recorded in food, beverage & tobacco products; printing & recorded media; non-metallic mineral products; metal products; and machinery & equipment.
•    Sharp declines in production, new orders and employment were recorded in April, while finished stocks and deliveries declined as well, albeit at a more moderate pace.

Click here to read the full article: http://globaleconomicanalysis.blogspot.mx/2013/05/australia-manufacturing-collapses-as.html



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News