Australian Chamber-Westpac Survey of Industrial Trends | June 2018
The Westpac–AusChamber Actual Composite index lifted in June 2018, up to 63.8 from 59.4 in March. The rise in June broke two quarters of moderation from 65.7 in September which was preceded by a sustained uptrend that emerged in June 2016 when the index was at 54.8. The above par reading for the Composite index reflects strength in new orders, output, overtime and backlog. However, employment consolidated in June after the hiring burst in the second half of 2017.
The 2018 outlook for Australian manufacturing continues to be positive, according to the latest Australian Chamber-Westpac Survey of Industrial Trends shows. There were 271 respondents to the Australian Chamber-Westpac Survey of Industrial Trends from across the manufacturing sector. Scores above 50 indicate positive responses outnumbered negative ones.
The survey, Australia’s longest-running business survey, dates from 1966 and provides a timely update on the manufacturing sector and insights into economy-wide trends.