A new survey has indicated that Australian manufacturers are in the most turbulent period in 50 years due to supply chain problems and inflating costs. However, they also benefit from strong demand for commodities.
The industrial trends research by the Australian Chamber of Commerce and Industry (ACCI) and Westpac bank found that the manufacturing sector saw robust expansions in the June quarter.
“(But) the economy is bumping up against capacity constraints in a tight labour market,” Westpac senior economist Andrew Hanlan told reporters in Canberra.
“The economy needs to lift investment to be able to boost capacity and provide a lift to productivity to drive a sustained recovery.”…