by Alan Thornhill
The strong $A is still troubling Australian manufacturers – and they now say the carbon tax is adding to their worries.
A new survey shows that manufacturing activity continued to shrink in this country last month, even though the rate of contraction eased.
The Australian Industry Group’s performance of manufacturing index stood at 47.2 points in June.
Readings below 50 indicate contraction.
However the index was still 4.8 points higher in June than it had been in May.
The Group’s Chief Executive, Innes Willox, said: “The contraction afflicting manufacturing extended into its fourth month in June.
Mr Willox said that had happened as: “… the high dollar, domestic and global uncertainties, the slump in residential and commercial construction and concerns over the impacts of the carbon tax weighed on the sector.”
He said, though, that four sub-sectors had to expand in June.
These were clothing and footwear, paper, printing and publishing, transport equipment and machinery.
Wages and input costs had continued to rise while manufacturers’ selling prices continued to fall.
Alan Thornhill is a parliamentary press gallery journalist.
Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.
Tuesday May 21
The Dow Jones Index fell 18.97 points to 15,335.40
Unions are seeking a rise of $30 a week in the National Wage Case, which opens today
The latest Morgan Poll shows support for the L-NP down 1 per cent to 55 per centover the past week and the ALP at 45 per cent, 1 per cent, on a two-party preferred basis.
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|Aud To Usd||0.9778||N/A||N/A|
|Bhp Blt Fpo||34.830||+0.040||+0.11%|
|Macq Group Fpo||45.670||+0.030||+0.07%|
|Qbe Insur. Fpo||15.400||-0.280||-1.79%|
|Nat. Bank Fpo||33.090||-0.280||-0.84%|
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