Production: Manufacturing: Total Manufacturing for Australia
PRMNTO01AUQ156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,179,000,000.00
Year-over-Year Change
4.63%
Date Range
7/1/1974 - 7/1/2023
Summary
The 'Production: Manufacturing: Total Manufacturing for Australia' trend measures the overall output of the Australian manufacturing sector. It is a key economic indicator used by policymakers and analysts to gauge the health and performance of the Australian economy.
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 trend represents the total volume of manufacturing production in Australia, including industries like food processing, machinery, and textiles. It is a broad measure of industrial activity and an important input for understanding broader economic conditions.
Methodology
The data is collected through surveys of manufacturing businesses and compiled by the Australian Bureau of Statistics.
Historical Context
Policymakers and central banks monitor this metric to inform decisions around monetary and fiscal policy.
Key Facts
- Manufacturing accounts for around 6% of Australia's GDP.
- Australia's manufacturing sector has declined in recent decades.
- Trends in manufacturing production can signal broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: The 'Production: Manufacturing: Total Manufacturing for Australia' trend measures the overall volume of manufacturing output in Australia, providing a broad indicator of industrial activity.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers, economists, and market analysts as a gauge of the health and performance of the Australian economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing businesses and compiled by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor this metric to inform decisions around monetary and fiscal policy, as it provides insight into broader economic conditions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical delay of 4-6 weeks between the end of the reference period and the release of the information.
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Citation
U.S. Federal Reserve, Production: Manufacturing: Total Manufacturing for Australia (PRMNTO01AUQ156S), retrieved from FRED.