Australian manufacturing dies slow death

Wednesday 4 October 2023

Alex Joiner, chief economist at IFM Investors, posted the below chart on Twitter (X) showing how real manufacturing investment is tracking around the same level as it was in early 2008 and 2012.

By contrast, the United States’ real manufacturing investment has soared to a level that is around 2.5 times that of 2008:

Source: Alex Joiner (chief economist, IFM Investors)

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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.