The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) rose 0.9 points to 50.2 points in September 2022, indicating stable conditions (seas. adj.). This is the second month of broadly stable conditions, following positive results since February 2022. Results above 50 points indicate expansion, with higher results indicating a faster rate of expansion.
- Manufacturing was broadly stable in September, the second month of even results since February. Activity contracted in all sectors but chemicals and machinery & equipment.
- New orders and sales grew in September and the pace of growth improved from August.
- The employment index has fallen rapidly, which reflects labour shortage pressures. The wages index remains very high.
- Labour challenges remain an ongoing constraint and supply chain disruption continues to be a key concern for manufacturing similar to previous months.
