Australia’s Performance Manufacturing Index has shown stability in September 2022, with increased market activity of 50.2 points, according to the Australian Industry Group.
The figure, which is a 0.9 uptick from the previous month, reflects the second month of the industry’s broadly stable conditions, following positive results since February 2022.
Readings above 50 points indicate expansion, with higher results indicating a faster rate of growth.
The Ai Group report revealed that activity contracted in all sectors except for chemicals and machinery & equipment. Manufacturers in this sector reported positive new orders and sales, but exports were weak.
The chemical products sector expanded but at a decelerating pace with sales, new orders, and employment all weaker compared to August’s results.
New orders and sales grew in September and the pace of growth improved from August, while the employment index has shown a steep fall as labour challenges remain an ongoing constraint.
Supply chain disruption also continues to be a key concern for manufacturing, similar to previous months.
Manufacturers also showed strong demand for longer-term infrastructure projects, particularly in the defence, construction, and agriculture sectors.
