Media Releases February 2018

The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell 1.2 points to 57.5 in February, indicating further expansion but at a slightly slower pace than in January (readings above 50 indicate expansion in activity, with the distance from 50 indicating the strength of the increase).

"The upcoming Federal Budget represents an opportunity for the Government to set Australia up for a prosperous, sustainable future in an increasingly volatile and rapidly changing local and international environment," Ai Group Chief Executive, Innes Willox, said today in releasing the organisation's Budget submission.

The Australian Industry Group congratulates Michael McCormack as the new leader of the National Party and Deputy Prime Minister.

"The ALP's announcement today that in Government it would launch a National Inquiry into Post-Secondary Education, brings welcome attention to the need to address shortcomings in both the vocational and higher education systems," Ai Group Chief Executive, Innes Willox, said today.

"The announcement today by the NSW Treasurer, Dominic Perrottet, of the creation of a State Productivity Commission should contribute to making the State a better place to do business," the Head of Ai Group NSW, Mark Goodsell said today.

"Today's High Court decision confirming the power of Courts to order union officials to pay their own fines, will be very important in reinforcing the rule of law in the construction industry. The decision will discourage CFMEU officials from blatantly disregarding industrial laws because, if they do, they can be ordered to personally pay large fines from their own assets," Australian Industry Group Chief Executive, Innes Willox, said today.

"Enacting the Bill that has passed the lower house would be a major step along the road to a fit-for-purpose tax system. The Bill would phase down the company tax rate to 25 percent by the start of the 2026-27 year. The reduction would boost investment, capital per employee, productivity and lay the foundation for a lift in real wages," Australian Industry Group Chief Executive, Innes Willox, said today.

"The ACTU's ongoing attempts to re-imagine the past by portraying Labor's Fair Work Act as unfair to unions and workers don't stand the most cursory of scrutiny," Australian Industry Group Chief Executive, Innes Willox, said today.

The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) increased by 1.5 points to 54.3 in January, indicating industry-wide growth for a 12th consecutive month and at a slightly faster pace than in December (readings above 50 indicate expansion in activity, with the distance from 50 indicating the strength of the increase).

The Australian Industry Group Australian Performance of Services Index (Australian PSI®) lifted by 2.9 points to 54.9 in January – an 11th consecutive month of positive results and at an accelerating rate of expansion compared with late 2017 (results above 50 points indicate expansion, with the distance from 50 points indicating the strength of the increase).