Australia’s senior leading indicator of manufacturing performance – the Australian Industry Group / PriceWaterhouseCoopers Performance of Manufacturing Index – once again recorded a negative result for February. The result of 45.4 points is a decrease of 3.6 points from January, which had recorded an increase over December, although still remained in contraction overall.
Once again of significance was the increase recorded in manufacturing exports, which have been steadily rising since the Australian dollar has been comparatively weaker against the US dollar after it’s cessation of quantitative easing.
PMI February 2015 Result
Three sectors expanded in February, whilst the other five contracted, mimicking the January result, with exactly the same sub-sectors expanding and contracting.
The food, beverages & tobacco sector and non-metallic mineral products sector were both standout performers once again, whilst the petroleum, coal, chemicals and rubber products sector has been in free-fall for a few months in succession.
- Food, beverages and tobacco (60.1)
- Textiles, clothing, footwear, furniture and other manufacturing (56.0)
- Non-metallic mineral products (66.2)
- Printing and recorded media (48.3)
- Petroleum, coal, chemicals and rubber products (34.7)
- Metal products (45.0)
- Machinery and equipment (42.1)
- Wood and paper products (43.5)
To download a two page précis of the report, click here…PMI February 2015