The high Aussie dollar and sluggish domestic demand have been blamed for further contraction in the manufacturing sector in October according to the latest Australian Industry Group – PwC Performance of Manufacturing Index.
Australia’s construction industry continues to contract, with the latest AiG/HIA Australian Performance of Construction index at 43.2 for the month of August.
The Australian Industry Group – PricewaterhouseCoopers Australian Performance of Manufacturing Index (Australian PMI) continues to surge, up 1.5 points in July.
While the Federal Government’s Paid Parental Leave scheme passing through the Senate yesterday marked a historic day for women in Australia, critics say the Paid Parental Scheme doesn’t go far enough.
Australia’s services sector is showing its first signs of recovery despite increases in interest rates, with the AiG Performance of Services Index recording growth in April.
Manufacturing has recorded growth not seen since May 2002, with the sector bolstered by demand in the construction, mining and infrastructure sectors.
Australia continues to struggle to manage its ‘two speed economy’ as the resource sector booms, while rising interest rates cripple the services sector.
The ACTU has embarked on a campaign to increase wages, asking for $27 extra of 5 percent more per week, but employers argue that an increase of that size will place jobs at risk.
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