A drop of 3.2 points saw the Australian Industry Group / PriceWaterhouseCoopers Performance of Manufacturing Index return to negative territory again in December.
Recording a 46.9, it was the same individual sectors that expanded and contracted from the last reporting period.
Positive news is starting to filter it’s way through the manufacturing sector, however, with the weakening Australian dollar helping manufacturing exports to record an expansionary 51.0. In fact, 7 of the 12 reporting periods for 2014 were expansionary in this sub-sector.
PMI December 2014 Result
Even though there was an overall contraction, four sectors still expanded whilst the other four contracted. This ‘4 & 4’ result has occurred over the past few reporting periods.
The food, beverages & tobacco and non-metallic mineral products sectors where by far the standout performers, increasing from even November’s very strong results.
Although still expanding, the wood and paper products sector experienced a 10-point reduction.
- Food, beverages and tobacco (60.4)
- Wood and paper products (51.1)
- Textiles, clothing, footwear, furniture and other manufacturing (58.6)
- Non-metallic mineral products (62.6)
- Printing and recorded media (40.1)
- Petroleum, coal, chemicals and rubber products (42.9)
- Metal products (40.9)
- Machinery and equipment (42.9)
To download a two page précis of the report, click here… PMI December 2014