Performance of Manufacturing Index - August 2020

August 2020 - OVERVIEW

Melbourne lockdown slows national manufacturing recovery in August

The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell by 4.2 points to 49.3 points in August (seasonally adjusted), indicating broadly stable conditions. Results above 50 points indicate expansion with higher results indicating a faster rate of expansion. Manufacturers related to food & beverages (including printing & packaging for groceries), medical & pharmaceutical products, and some parts of freight transport, reported a robust recovery in conditions while other sectors reported lower demand due to the COVID-19 recession.

There was significant divergence between the larger manufacturing states in August. Victoria’s PMI® fell by 9.3 points and back into contraction at 44.0 points. In contrast, the PMI® in NSW and South Australia continued to indicate recovery in August, while the PMI® in Queensland improved but continued to indicate a period of contraction.

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