Australia Industry Index

The Ai Group Australian Industry Index fell by 3.6 points to -8.9 points in April 2024, remaining in contractionary conditions for the last twenty-four months. The industrial activity indicator reached a low point around the new year period, and has been recovering through early 2024. New orders dropped by 3.1 points to -20.0, recovering since a low around the new year period, but the indicator continues to point to significant contraction. The improvement in input volumes continued in April, and in trend terms volumes have returned to neutral. Businesses report continuing supply chain disruptions, alongside lower purchasing demand as new orders and input volumes fall. The employment indicator fell slightly by 2.2 points in April but remained positive at +2, indicating a strengthening trend since the previous winter.