Trailer Magazine

Australian manufacturers set for growth

  • Posted on Tuesday 9th, January 2018.

The manufacturing industry in Australia has a confident outlook for Q1 2018, according to a report from credit reporting agency, Illion.

The report, Australian Business Expectations Survey: 1st Quarter Analysis 2018, has revealed that this positive outlook was supported by the Business Actuals Index, which at 15.8 points has risen 80.6 per cent in a year and is now at its highest level since March 2004. Business expectations for manufacturers are reportedly at their highest level since June 2003.

“2018 is starting on a positive note for the economy with both business expectations and the actual performance of the business sector at multi-year highs,” said Illion Economic Advisor, Stephen Koukoulas.

“It would appear that the positive tone from a stronger global economy, together with low interest rates and a competitive level for the Australia dollar are all providing a tail wind for the business sector,” he said.

Illion CEO, Simon Bligh, has confirmed that business confidence is buoyant.

“Expectations for profits and employment emerged as key drivers early on, but capital investment planning is also showing signs of growth, which is crucial for sustained momentum,” said Bligh. “The manufacturing and construction sectors appear to be in particularly good spirits as we start the year, which is another positive, signalling underlying strength of the economy.”

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