The Australian Industry Index® declined by 0.6 points to -12.5 seasonally adjusted in November.

• Employment, new orders and input volumes all weakened as the demand outlook softened at the end of the year.
• Pricing indicators point to a return of inflationary pressures, with input prices rising and more firms passing on cost through sales pricing.
• Manufacturing continues to slowly recover, with machinery reporting a material uplift. Construction activity slowed on the back of lower investment in the future work pipeline.
• Capacity utilisation fell 3.2% to 74.2%, the lowest level since August 2020.