Australia Industry Index

The Ai Group Australian Industry Index dropped sharply in October 2024, down by 10.1 points to -28.8 (seasonally adjusted), marking thirty consecutive months of contraction. All key indicators of industrial activity declined, with employment—previously the strongest—continuing its downward trend. Input prices fell to their lowest level since 2020, signaling reduced inflationary pressure. The sales price indicator turned negative, showing that more businesses cut prices than raised them. The activity/sales indicator declined by 7.5 points to -32.9, and the employment indicator dropped by 9.6 points to -23.9. Employment has steadily declined throughout 2024 in trend terms, reflecting a delayed impact from lower activity levels. While most respondents reported slower sales, some saw activity gains from seasonal promotions linked to summer and the holiday season.