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Great for Australian Industry Brings New
There is no doubt that the recent AUKUS agreement between Australia, USA and the UK was a surprise to just about everyone on the planet!
Taking a closer look into the government’s decision to commit to the AUKUS alliance, much of what has been reported by mainstream media has been inaccurate or under-examined. Grave concerns about job opportunities, timeframes and of course safety have been prominent in the news, troubling members of the Australian public and the manufacturing sector at large. Industry Update interviewed Richard Price, Chief Executive
Australian manufacturing is set to continue its unexpected wave of growth throughout 2018 and beyond, buoyed by unprecedented infrastructure investment and a weakened Aussie dollar.
of infrastructure projects – particularly in New South Wales, and when you view this against a background of robust global economic growth, the opportunities are there for manufacturing to prosper.”
“More Australian manufacturers a exporting under the Coalition Governm For every $1 of revenue the sector gen 28 cents comes from abroad. That’s up cents a decade ago,” says Senator Cas
The growth of the manufacturing sector has been charted by the Ai Group Performance of Manufacturing Index, which peaked in March to a record high while marking 18 consecutive months of growth.
Bizarrely, the threat of a global trade war seems to have worked in favour of Australian industry – in the short term at least – by softening the value of the Aussie dollar.
Besa Deda from St.George also s positives in the manufacturing employm statistics. “Although manufacturing em as a proportion of the economy as a wh is in a long-term decline, the recent gai encouraging,” she says, pointing to nea new manufacturing jobs and increasing expenditure plans in the sector.
Capabilities
Nonetheless, the nation’s reliance on export Besa Deda is Chief Economist for markets has increased in recent years. According St.George Bank, and having analysed the data to Minister for Jobs and Innovation Senator is keen to highlight the continuing improvement Michaelia Cash: “Australia’s access to global One word of warning, though, com in some of the subindexes of the Australian PMI. international markets will be fundamental to financial analyst illion, which noted in its “It’s particularly encouraging,” she says, “that the sector was brought of Defence SA, South Australia’s the continued health and success of our local recent Australian Business Expectation new orders subindex isthe at aindustry record high.” lead government agency for all to light. that one in three manufacturers had re manufacturing industry. defence matters, on the legitimacy And while she is cautious about Australia’s customers or suppliers become insolve reallyChina important to “We export more than $20 billion a year of the country’s concerns. Here, to any trade war“It’s exposure involving unable to pay them in the preceding 12 Wardell Packservhighlighting is bringing groundnot only were fears put to and Besa Deda understand has been no more today thanNathan we did a decade ago. of Australian andbed the USA, points to there a cashflow as the second-big new capabilities to barrier the marketplace inaccuracies addressed,combination but the of factorsserious fact, sold $2.7 trillion to the westernexporters nuclearhave, inbreaking fuellingincident the growthonofathe to growth in thebut year ahead, afte team player. enormity of what it will contribute to sector. “There’s a bulgingContinued page 14 remains Continued manufacturing pipeline on and operating costson page 16 global economy over the lastadecade. 245_340_3mmbleed_wi 2018-04-04T11:34:01+10:00
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