Australian Industry Group Performance of Manufacturing Index down 2.4 points to a still very strong 60.8
- prior 63.2
- the tenth consecutive month of recovery (i.e. above 50)
Record highs reached for:
- machinery & equipment
- metal products
- chemicals manufacturing
sectors.
All seven of the activity indicators expanded in July
- three moderated slightly from the previous month
- The new orders index remained elevated but fell from a record high in June
On the inflation indicator front, a new high for the input price index. Says the AiG report:
- Respondents attributed surging activity and prices to strong demand for manufactured products that supply the construction, mining, agricultural and transport sectors.
More:
- Continued uncertainty due to rolling lockdowns have led to order cancellations and / or postponements for some manufacturers.
- Manufacturers reported concerns about lockdowns. supply chain disruptions, input costs and difficulties finding suitable staff in July.
Bolding mine, familiar themes right around the world these.
