Australia Industry Index

The Ai Group Australian Industry Index fell to -23.5 points in August 2024, down by 2.9 points from the previous month, marking its 28th consecutive month in contractionary territory. The index reflected deepening challenges, with significant declines across activity/sales, inputs, and employment indicators. The employment indicator dropped further to -20.6 (down 12.5 points), following prolonged low orders and reduced activity over the past 18 months. Despite some businesses using discount promotions to boost sales, overall activity remained broadly negative. Input price and wage growth slowed, but sales prices increased for the third consecutive month. Shortages of skilled staff continued to be a significant issue.