Ai Group Australian Industry Index®

The Ai Group Australian Industry Index® is representative of the modern industrial ecosystem. It brings together the manufacturing, construction, engineering, technology and business services sectors – industries which together account for 36% of the Australian economy.

Recognising the heritage and importance of the Australian PMI® and Australia PCI®, both will continue as sub-indicators available within the Ai Group Australian Industry Index®, however, there will no longer be separate release dates for these indexes.

The Ai Group Australian Industry Index® is regularly published on the first working Wednesday of each month (or the following working day if the Wednesday is a national holiday): Australian Industry Index release dates 2024

May 2024: Weak demand drags on industrial activity

Key findings

  • The Ai Group Australian Industry Index® sank deeper into contraction in May as weakening demand dragged on activity.
  • All activity indicators fell materially in the month. A significant decline in the new orders indicator around the holiday period is now passing through to the activity/sales and employment indicators.
  • Monthly Aii data has displayed high volatility in early 2024. On a trend basis, all activity indicators point to steadily weakening industry performance since mid-2023.
  • Metals manufacturers and constructors reported steep declines in May, citing weak order books alongside persistent cost pressures.
  • Capacity utilisation fell to a record low of 73.5%, the lowest level since the lockdowns of winter 2020.

The Ai Group Australian Industry Index® fell in May 2024, losing 31.4 points to -40.3 points (seasonally adjusted). The index has indicated contractionary conditions for the last twenty-five months.

Economic Intelligence newsletter

June 2024

In the June edition of Economic Intelligence we cover:

  • Inside the engine-room of Australia’s innovative businesses: our Research Note investigates Australia’s innovative strategies and barriers in the way of businesses.
  • Tracking Australian industry: GDP growth declined, public wage growth returned to trend, increasing unemployment, job creation shifted towards part-time, household spending dropped by half while business turnover recovered.
  • Economic forecasts IMF forecasts Australian growth will slip in 2024, while inflation is expected ease faster for advanced economies compares to emerging markets.
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Detailed Index Data

Our reports and time series data for the Ai Group Australian Industry Index® are available free of charge to Ai Group members at any time via email from our economics research team economics@aigroup.com.au. Our data are available to non-members on an annual subscription basis or a one-off purchase. Our data subscribers receive the report and time series data for the activity index, sector and selected states via email each month.

Email us to find out more about purchasing data

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Need help?

The Workplace Advice Line is Ai Group’s national telephone advisory service for all your on the spot workplace related questions.

Call the Workplace Advice Line
1300 55 66 77 and press option 1
(Overseas: +61 3 9867 0100). Email: workplaceadvice@aigroup.com.au

Weekdays from 8.30am to 5.30pm
(Australian Eastern Daylight/Standard Time)

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The Australian Industry Group is the peak membership body for Australian industry, linking you to the insights, services and expertise you need to be successful. As a member of Ai Group, you are part of a powerful, credible and experienced industry community.