Performance of Manufacturing Index - January 2021

December 2020 and January 2021 - OVERVIEW

Manufacturing recovers over holiday period

The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) increased by 3.2 points to 55.3 points (seasonally adjusted), indicating a stronger improvement in conditions over the summer holiday period (December 2020 and January 2021*) compared to November 2020. Results above 50 points indicate expansion, with higher results indicating a faster rate of expansion.

Australian manufacturing suffered severe disruptions in output, sales and activity during Q2 and Q3 of 2020 due to the COVID-19 pandemic but has been in recovery since September. Manufacturing businesses reported stronger and more broad-based recovery over the (normally quiet) summer holiday period. Five of the six manufacturing sectors included in the Australian PMI® reported positive trading conditions (results over 50 points, trend) during December 2020 and January 2021, with the strongest results reported from manufacturers in machinery & equipment and chemicals, pharmaceuticals, cleaning, rubber, petroleum & related products.

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