Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

I thank the senator for the question. The Australian Industry Group’s Australian Performance of Manufacturing Index has now fallen for six consecutive months. In November it fell 7.7 points to 32.7. An index below 50 per cent indicates a contraction of the sector. This is in line with similar indexes on a worldwide basis. In October the United States index eased to 38.9, the Euro zone index fell to 41.1, the Japanese index fell to 42.2 and the Chinese index was down to 45.2. The subdued activity is as a result of, amongst other things, higher input costs and falling demand, which are to be expected in the context of a slowing global economy. There is no disputing the underlying strength of Australian manufacturing. In 2007-08 new records were set in terms of industry value-adding, which is at $104.7 billion, company profits before income tax at $29.4 billion and exports at $88.4 billion.

It is a pity that the opposition does not have more regard for the jobs and welfare of Australian working families, instead of trying to denigrate the efforts of Australian workers. You would have expected that the opposition would have a better understanding of Australia’s place within the global economic environment. You would have also expected the opposition to actually do something to support Australian manufacturing and to support the maintenance of confidence in Australian jobs. (Time expired