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.
Thursday December 12
Australia’s unemployment rate rises slightly to 5.8 per cent in November 2013 (seasonally adjusted):ABS
The Dow Jones index fell 129 points to 15,844
The High Court upholds a Commonwealth government challenge to an ACT law permitting same sex marriages. Some 30 couples will now find their marriages void.
The Federal government admits it won’t meet its time or cost targets, in its broadband roll-out
|Aud To Usd||0.905||N/A||N/A|
|Bhp Blt Fpo||35.540||-0.640||-1.77%|
|Nat. Bank Fpo||33.040||+0.170||+0.52%|
|Bramb Ltd Fpo||8.570||-0.230||-2.61%|
|Macq Group Fpo||51.320||-1.100||-2.10%|
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