FX.co ★ AIG Manufacturing Index in Australia Drops to -13.9 in April 2024

In April 2024, the AIG Manufacturing Index in Australia experienced a significant decline to -13.9, marking a notable decrease from the previous month's reading of -7.0 in March 2024. The latest data update on 30 April 2024 revealed this downward trend in the manufacturing sector, reflecting challenging conditions faced by Australian manufacturers during that period. The sharp drop in the AIG Manufacturing Index underscores the impact of various factors such as supply chain disruptions, rising input costs, and global economic uncertainties on the country's industrial output. Analysts will closely monitor future developments to assess the resilience and recovery prospects of Australia's manufacturing industry amidst the evolving economic landscape.