Manufacturing Expands

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Despite the rising dollar, Australian manufacturing continues to expand.
The Australian Industry Group’s performance of manufacturing index dropped 4.7 points to 53.4 in April.
But importantly, it remains above the 50-level showing that the sector is expanding.
The Ai Group’s figures show that manufacturing has now been expanding for the 10th straight month.
That’s the longest period of unbroken growth since September 2006.
Ai Group chief executive Innes Willox said it was a good sign.
“The current expansion in manufacturing is a much-needed turnaround for a sector that has been through a very tough decade. While margins remain tight, recovering domestic market share and building momentum in a variety of export markets provide a strong foundation for the lift in confidence required for the sector to move up another gear,’’ Mr Willox said.
“A budget that boosts incentives for business investment and innovation would come at just the right time for manufacturers to capitalise on recent gains.”

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