Australian Footwear And Other Manufacturing Industries Continued To Languish In October.
According to the Australian daily, according to the latest survey, the Australian dollar is high and cheap imported.
commodity
Australia's manufacturing sector continued to slump in October, but the contraction was narrowed.
Australian Industrial Group / PWC (Australian Industry Group/PriceWaterhouseCoopers)
Australia
Australian Performance of Manufacturing Index (PMI) rose 5.1 points to 47.4 points in October.
The index below 50 indicates a contraction in manufacturing activity.
Of all manufacturing sub sectors, the shrinkage of clothing, footwear and construction related industries is the most significant.
The manufacturing activities of 8 departments in 12 sub sectors do not go backward.
Heather Ridout, chief executive of Ai Group, said that it had not yet seen it.
manufacturing industry
There is any sign of rapid recovery.
Ridout said in a statement released on Tuesday, "although the slowdown in manufacturing activity has slowed down in October, the whole industry is still in negative growth.
The lack of new orders means that signs of large-scale and rapid recovery have not yet appeared.
The new order classification index rose 2.3 points to 46.9 points in October.
Graeme Billings, head of PWC global industrial manufacturing, said high Australian currencies and cheap imports continue to weigh on Australian manufacturers.
He said, "the relief of manufacturing shrinkage in October is gratifying, but the whole manufacturing industry will continue to face a severe business environment.
Manufacturers must constantly improve their productivity to enhance their competitiveness, which is the decisive factor for the manufacturing industry to gain huge economic prospects.
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