The decimation of Australian manufacturing

The latest quarterly data from the Australian Bureau of Statistics (ABS) has revealed in all its hideous glory the decimation of Australia’s manufacturing sector.

First, last week’s September quarter national accounts revealed that real manufacturing output has declined for 11 years, and is now tracking at the lowest level since 1999 – a 20-year low:

Accordingly, manufacturing’s share of Australian economic output hit the lowest level on record in the September quarter at 5.4%, down massively from more than 13% in 1980:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.