EconomicIndicator

Manufacturing Remains Buoyant in April

April 2018 marked a nineteenth month of expanding or stable conditions for the Australian PMI and the longest run of continuous expansion since 2005.

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The large machinery and equipment sub-sector’s index built on last month’s positive result, reaching a record high of 61.2 points in April. Capacity utilisation remains particularly high for this sub-sector which suggests that machinery and equipment manufacturers will need to increase their investment and/or employment in order to meet future demand. 

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The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) is a national composite index calculated from a weighted mix of the diffusion indices for production, new orders, deliveries, inventories and employment. An Australian PMI® reading above 50 points indicates that manufacturing activity is expanding; below 50, that it is declining. The distance from 50 indicates the strength of expansion or decline. Australian PMI® results are based on responses from a national sample of manufacturers that includes all states and all sub-sectors. The Australian PMI® uses the ANZSIC industry classifications for manufacturing sub-sectors and sub-sector weights derived from ABS industry output data. Seasonally adjusted and trend data are calculated according to ABS methodology. The Australian PMI® commenced in 1992.