Economics Resource Centre

Performance of Manufacturing Index - February 2020

Australian PMI®
Down 1.1 points
(seasonally adjusted)

44.3

Australian PMI®
Down 1.5 points
(trend)

44.8
 

Next Release: 1 April 2020

February 2020 - OVERVIEW

Manufacturing slows further in February

The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell a further 1.1 points to 44.3 points in February. This marked four consecutive months of contraction in Australian manufacturing for the first time since 2014 and was the lowest monthly result in almost five years (seasonally adjusted). Results below 50 points indicate contraction with lower results indicating a faster contraction in the month.

The indices for all manufacturing sectors deteriorated in February and all except food & beverages recorded a contraction in the month (results under 50 points, trend). The production, sales, new orders and exports indices fell further into contraction in February and were firmly negative.

 

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