Key findings
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The Australian Industry Index® sank deeper in August and continued to point towards challenging conditions.
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Indicators for activity/sales, inputs and employment all fell in the month. A significant decline for employment points to many months of low orders now flowing through to employment activity.
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August saw mixed results on pricing - growth in input prices and wages indicators eased, while sales prices rose for a third month.
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Constructors and machinery manufacturers reported steep declines, citing weak order books and persistent cost pressures.
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Business services have recovered from the previous month as a result of increased demand and productivity.
The Ai Group Australian Industry Index® fell in August 2024, losing 2.9 points to -23.5 points (seasonally adjusted). The index has indicated contractionary conditions for the last twenty-eight months.