Market News

Global manufacturing activity remained in expansion territory in June, although the pace of growth eased for a second consecutive month, according to the latest J.P.Morgan Global Manufacturing PMI.

Aerospace composite manufacturer Quickstep has collaborated with the Sovereign Manufacturing Automation for Composites CRC (SoMAC CRC) and Deakin University’s Institute for Intelligent Systems Research and Innovation to help address the high cost of large-scale composite production. 

Global manufacturing activity continued to expand in July, although the pace of improvement eased for a second straight month, according to the latest J.P.Morgan Global Manufacturing PMI®, which showed sustained growth in production, new orders and employment while highlighting ongoing uncertainty surrounding the sector.

In a promising sign for the global economy, March witnessed a robust acceleration in the rate of growth in manufacturing production, reaching its highest level since June 2022, driven by a surge in new orders.

Toyota Australia is set to offer approximately 10 per cent fuel economy improvement for certain HiLux models, compared to the current 2.8-litre turbo diesel variants, when upgraded versions fitted with 48-volt technology arrive in the first half of 2024.

The Irish manufacturing sector recorded a second month of deteriorating operating conditions in December as new orders fell sharply, according to the latest AIB PMI® data. 

Australian drone manufacturer Orbital UAV has secured a $1.5 million grant from the Department of Jobs, Tourism, Science & Innovation, after the company reached an agreed performance milestone during the second half of 2023.

Aluminium Revolutionary Chassis Company (ARCC), the developer and manufacturer of Australia’s first lightweight bolted aluminium city bus chassis, has secured strategic investment from Macquarie Group and Origin Energy.

Aluminium extruder and distributor Capral Limited has posted its financial report for the first half of 2023, outlining strong results that went beyond expectations. 

Australia’s manufacturing sector saw a mild decline in March, due to lower market demand that reduced output and inventory levels, marking the first PMI contraction since May 2020.