Production: Manufacturing: Total Manufacturing for Australia
PRMNTO01AUA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,198,250,000.00
Year-over-Year Change
-5.94%
Date Range
1/1/1975 - 1/1/2022
Summary
The 'Production: Manufacturing: Total Manufacturing for Australia' trend measures the overall output of the Australian manufacturing sector, providing a key indicator of economic health and industrial activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator tracks the total volume of manufactured goods produced in Australia, encompassing a diverse range of industries from food processing to vehicle assembly. It is a closely watched metric used by policymakers, analysts, and businesses to gauge the strength and trajectory of the Australian economy.
Methodology
The data is collected through surveys of manufacturing establishments and compiled by the Australian Bureau of Statistics.
Historical Context
The manufacturing sector is a vital component of Australia's economy, and this trend helps inform decisions around monetary policy, trade, and industrial development.
Key Facts
- Australia is the 14th largest manufacturing economy in the world.
- Manufacturing accounts for approximately 6% of Australia's GDP.
- The sector employs over 900,000 people in Australia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total volume of manufactured goods produced in Australia, providing an overview of the country's industrial output and economic activity.
Q: Why is this trend relevant for users or analysts?
A: The manufacturing sector is a key driver of the Australian economy, and this trend is closely watched by policymakers, businesses, and economists to gauge the strength and trajectory of industrial production.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments and compiled by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: This trend helps inform decisions around monetary policy, trade, and industrial development, as the manufacturing sector is a vital component of Australia's economy.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis, with a slight delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Production: Manufacturing: Total Manufacturing for Australia (PRMNTO01AUA156S), retrieved from FRED.