Survey results for manufacturing and construction indexes for May 2023 from the Australian Industry Group.
AiG Manufacturing Index -5.1
- prior -20.2
Construction -6.36
- prior -12.4
More board ‘Australian Industry Index” is -10.9
- prior -20.2
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From the report:
Key findings
- The contraction in Australian industry indicated by Ai Group’s Australian Industry Index eased somewhat after a steep fall in April, but the index remains in overall contraction.
- The employment indicator fell into negative territory in May, following similar falls for new orders (in March) and activity/sales (in April).
Price indicators eased from very high levels, consistent with inflationary pressures having peaked. However, price indicators remain very elevated over neutral.
- All industrial subsectors are reported as being in contraction. Upstream manufacturers reported steep declines, while the decline among downstream manufacturing respondents eased.
- Capacity utilisation grew marginally to 82.8%, reflecting ongoing labour and supply chain shortages.
No AUD impact from these data points.