From all indicators Ronson Gears is cautiously optimistic about growth in the gear manufacturing industry in 2012, although Australian updates on the status of the Manufacturing industry reveal a wide disparity between industry sectors. Australian Industry Group Chief Executive, Heather Ridout, said: "Manufacturing conditions clearly remain tough and have been so for much of the past year raising critical issues for policy-makers and businesses alike. While the Australian PMI(r) shows signs of an easing in the pace of decline in current activity and new orders, employment levels fell sharply in November suggesting an ongoing loss of manufacturing capability. This highlights the importance of the Federal Government's manufacturing taskforce in developing a long-term strategy for the industry. At the same time, it is encouraging that the just released ABS capital expenditure data indicates a solid upturn in manufacturing investment suggesting that underneath the data there is a strong vein of confidence in the prospects for the industry".
PwC Australian Head of Industrial Products, Peter Le Huray, confirmed that November's Australian PMI(r), showed a diversity of experience across the manufacturing sector. Activity expanded in the basic metals, chemicals, petroleum & coal, transport equipment and miscellaneous manufacturers in contrast to particularly sharp declines in activity in the clothing & footwear, fabricated metals, paper, publishing & printing and construction materials sub-sectors. Read more.
From the US comes more positive news from the Manufacturers Alliance for Productivity and Innovation (MAPI) U.S. Industrial Outlook (ER-734) where growth is being led by the energy, transportation, and industrial equipment industries.
