“Production, sales, exports and employment all gained ground” – best result for manufacturing in five months

The Australian Industry Group Performance of Manufacturing Index has recorded its best result since October, with February’s PMI coming in at 54, an increase of 1.5 from January.

The PMI survey results are published monthly. A result above 50 indicates expansion, and below it contraction.

“Australia’s manufacturing sector strengthened in February after faltering in the closing months of 2018 and clawing back some lost ground in January,” said the Innes Willox, the Ai Group’s chief executive.

“Production, sales, exports and employment all gained ground.”

Four of seven sub-sectors were in growth, two – metal products (46.50 and building, wood, furniture & other (48.0) shrunk, and one was stable.
Issues for manufacturers continued to be energy costs and skills shortages. Drought conditions continue to bite in  NSW, South Australia and some of Queensland.
“Businesses in all states remain very concerned about mitigating their energy costs and about growing skill shortages for experienced, technical and specialist tasks,” according to the Ai Group.
Read the results at this link.
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