Australian Manufacturing Grows
This month we have the interesting statistic that Australian Manufacturing has grown every single month for the past 12 months. That is a whole year of positive growth. Australian Manufacturing Expansion is a good in my opinion. I know we have been led to believe that Australian Manufacturing is gone with the exit of the car assemblers being the final straw, but the truth is very different. The Automotive Sector only accounts for 5% of Australia’s Manufacturing.
Professor Goran Roos
In my post on Modern Economies Need Manufacturing I cited some of the work by Professor Goran Roos who has both academic and business experience in making Innovation, Technology and Business work together. Hi Scandinavian background also means he is familiar with the benefits of collaboration and partnering for commercialisation, something we desperately need to do better here.
So Manufacturing Growth is a very good thing. It creates more jobs around it than an other industry and creates that fundamental value the service industry need to lever off. Let’s face it, someone has to do it.
Australian Exports Expand
And in addition, Australia has 300 More Exporters. That right, more companies are exporting now that a year ago. The lower Australian Dollar is responsible for some of this, and the better rhetoric at the Federal politics level has certainly helped.
Here is the Australian Industry Group report on Leading Performance Indicators: AiG-PMI-2016.
The average Australian Manufacturing PMI performance over the past 12 months is 52.3 where 50 = staying the same and more than 50 = growing. So measurably growing. You can get a more detailed report on just Australia is doing from Trading Economics Australian Manufacturing PMI.
Australian Manufacturing PMI June 2016
So another good month for Australian Manufacturing. And a good thing that is.
Successful Endeavours specialise in Electronics Design and Embedded Software Development, focusing on products that are intended to be Made In Australia. Ray Keefe has developed market leading electronics products in Australia for more than 30 years. This post is Copyright © 2016 Successful Endeavours Pty Ltd.