Australia’s manufacturing sector will need to get in touch with welding equipment suppliers in the coming months after new orders and export orders rose in August based on an index.
The Performance of Manufacturing Index (PMI) showed that the industry increased to 56.7 points. A score above 50 indicates, and expansion and a figure below it indicates a slowdown.
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New orders registered a higher score at 59.6 points, while the export sub index expanded to 58.4 points. Market factors such as a lower currency against the U.S. dollar may have supported the growth. Based on historical data, the level of activity has been happening consistently for 23 months in a row.
However, five out of the eight sub sectors have increased in August. This only proved that the growth remains a mixed bag. Non-metallic minerals and machinery, food and beverages, wood and paper products, chemicals and equipment comprised the five sub sectors with increased activity. If you’re looking for new tools to improve factory production, now may be a good time to do so since manufacturing activity will remain buoyant in the near future.
Some companies may be hesitant to buy new equipment and tools, especially given the rising prices of gas. Fuel switching could be a good way to save money and still be able to afford new resources. Solar-powered generation is an example.
A report suggested that manufacturers in the country should consider using less gas in favour of solar technology. You don’t have to abandon gas entirely just for the sake of going green, although renewable energy sources are a cheaper source of electricity, according to the report.
Look for equipment suppliers who understand your production goals in the coming months. It’s better to find companies that specialise in the supply of certain equipment such as welding and pipe working tools.