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December 05, 2019

This month’s Australian Industry Group Australian Performance of Manufacturing Index paints a stark picture of Australian manufacturing under the Morrison Liberal Government, hitting its weakest condition in three years. 
The Government has been talking up manufacturing while presiding over its decline.
The report shows Australian manufacturing is contracting, falling by 3.5 points in November, displaying its lowest performance since 2016.
The statistics are particularly telling, showing weakening in building materials wood, furniture, metal products, machinery and equipment, paper, printing, textiles, clothing and paper. The results highlight how
Of particular concern is the drop in employment and wages. Wages in the industry are growing at a slower rate than in previous quarters.
Employment in the manufacturing industry is contracting, not growing.

The manufacturing figures come as the National Accounts show economic growth is still too weak, annual growth is only 1.7 per cent, well below budget forecasts and well below trend.

The Reserve Bank has said that low wages growth under the Liberals and Nationals is now the “new normal”.
Wages growth under the Liberals is the worst on record and has just slowed even further.
It does not need to be this way.
CSIRO’s Australian National Outlook report and found that manufacturing could contribute more than 25 per cent in additional GDP growth compared to today - if Australia gets the settings right.
In Perth recently, Labor Leader Anthony Albanese made the case for a boost in Australian manufacturing.
The Morrison Government must do more to support the Australian manufacturing sector.