Economics Resource Centre

Performance of Manufacturing Index - November 2019

Australian PMI®
Down 3.5 points
(seasonally adjusted)

48.1

Australian PMI®
Down 0.4 points
(trend)

51.1
 

Next Release: 6 January 2020

November 2019 - OVERVIEW

Weakest manufacturing conditions in three years

The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell by 3.5 points to 48.1 points, which is the lowest reading since August 2016 (seasonally adjusted). Results below 50 points indicate contraction with lower results indicating a faster contraction in the month.

The fall in the Australian PMI® to a level below the critical 50-points threshold (that separates expansion from contraction) has only occurred in three months since July 2015. The faster rate of contraction of the new orders index in November suggests a weak Christmas period ahead for Australian manufacturers. However, some manufacturing sectors are reporting better conditions than others, with manufacturers in the large food and beverage sector continuing to report buoyant conditions.

 

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