Australia AiG Performance of Manufacturing Index dropped -1.5 to 52.5 in July. Looking at some details, production dropped sharply by -7.2 to 47.5. Employment dropped -0.9 to 50.1. New orders rose 4.2 to 59.9. Supplier deliveries dropped -4.1 to 47.4. Exports dropped -1.8 to 51.2. Input prices dropped -9.6 to 79.7. Selling prices dropped -3.3 to 64.5.
Innes Willox, Chief Executive of Ai Group said: “The supply and labour constraints afflicting the Australian economy are weighing heavily on the manufacturing sector. Production and employment both fell in July, as manufacturers struggle with chronic labour shortages and supply chain interruptions. New orders rose this month, but our manufacturers simply can’t meet this demand without more workers.”