(PRWEB) July 04, 2012
Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC reports that according to the latest Australian Industry Group – PwC Australian Performance of Manufacturing Index (Australian PMI), manufacturing activity continued to contract in June although the trend eased somewhat.
Big4.com reports that while four sub-sectors expanding in June were: clothing & footwear, paper, printing & publishing, transport equipment, and machinery & equipment, eight sub-sectors contracted in the same time period.
Australian Industry Group Chief Executive, Innes Willox presented some explanations:
"The contraction afflicting manufacturing extended into its fourth month in June as the high dollar, domestic and global uncertainties, the slump in residential and commercial construction and concerns over the impacts of the carbon tax weighed on the sector,” he said.
Big4.com also reports the seasonally adjusted Australian PMI® was 4.8 points stronger at 47.2 in June with readings below 50 indicating a contraction in activity with the distance from 50 indicative of the strength of the decrease.
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- Kristy Short