Economics Resource Centre

Performance of Manufacturing Index - November 2020

Australian PMI®
Down 4.2 points
(seasonally adjusted)

52.1

Australian PMI®
Up 0.3 points
(trend)

53.0
 

Next Release: 1 February 2021

November 2020 - OVERVIEW

Manufacturing stabilises in November

The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) declined 4.2 points to 52.1 points (seasonally adjusted), indicating expanding conditions in November but at a slower rate than in October. Results above 50 points indicate expansion with higher results indicating a faster rate of expansion.

The result largely reflects stabilisation in conditions after a bounce-back into positive territory, following Victoria’s easing of activity restrictions in October. South Australia had the largest fall of any state due to lost production from the three-day shutdown. Still, it remained in positive territory because of robust agricultural conditions, which boosted demand for food & beverage and machinery & equipment manufacturers. Victoria recorded its first month of expansion since March.

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