Australian Chamber-Westpac Survey of Industrial Trends | September 2018
The Westpac–AusChamber Actual Composite index rose in September 2018 to 66.5 from 64.1 in June. The increase in September consolidates on June’s bounce from two quarters of easing to 59.5 in March.
The well above average reading for the Composite index reflects strength in new orders, output, employment, overtime, and backlog. The Australian economy has seen a period of strong expansion in the year to June 2018 with annual output growth of 3.4%, which is the fastest pace since 2012.
A total of 297 responses were received and provided a reasonable cross–section of Australian manufacturing in respect of industry groups and size of operation.
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.