Ai Group Australian Industry Index - August 2024

Key findings

• The Australian Industry Index® sank deeper in August and continued to point towards challenging conditions.
• 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.
• August saw mixed results on pricing - growth in input prices and wages indicators eased, while sales prices rose for a third month.
• Constructors and machinery manufacturers reported steep declines, citing weak order books and persistent cost pressures.
• 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.