The Australian Industry Index® improved by 4.2 points to -11.2 seasonally adjusted in October.

• The employment indicator returned to neutral for the first time in 18 months, led upwards by improving access to labour supply in the construction industry.
• Construction rose in the month, and in trend terms has seen steady improvement over the last year as supply constraints ease while market conditions improve.
• Manufacturing performance continued to weaken, particularly in the metals sector which is struggling with high energy prices and global trade headwinds.
• Pricing indicators suggest that industry is beginning to raise prices again after a year of absorbing cost increases on the balance sheet.