Manufacturing bounces back after worst of Omicron

Manufacturing recovered after a difficult holiday period, according to the Australian Industry Group’s Australian Performance of Manufacturing Index survey.

The PMI result for February was 53.2, up 4.8 points from December-January. 

Any result above indicates expansion, below it contraction, and 50 indicating no change.

According to a summary of the results, these indicated “mild improvements and a rebound into positive territory after a sharp decline” following the previous result. 

The Ai Group said that manufacturing appeared in recovery following temporary disruptions “in output, sales and activity during the summer holiday months due to widespread infections, labour shortages and supply chain disruptions.”

The largest of the sectors tracked, food and beverage, improved but remained in contraction. Four of six sectors achieved results better than 50.

Picture: www.aigroup.com.au

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