The activity witnessed in the Australian manufacturing industry has sunk to a frightening low level. The Performance of Manufacturing Index fell to 32.7 in November, this making the sixth month consecutively that the index has fallen.

Australian Industry Group chief executive, Heather Ridout, has commented on the fall in orders stating that they have never been this low.

“We have been collecting the records for 16 years. All 12 sectors of manufacturing recorded a decline in November and that follows a very weak October.”

It is hoped that the raate cuts that are expected to be seen tomorrow will be the helping aid that Australian industries are crying out for. Industry experts are tippinng that interest rate cuts will be of some assistance as demand should increase as a result.

Have your say: What do you think about Australian industry production slumps?