The Australian Industry Group (AIG) manufacturing Index measures the state of the national manufacturing sector. This index is based on a monthly survey of Australian manufacturing companies.
The survey participants estimate five key parameters of their business, including production, new orders, supplies, stocks and employment. Participants estimate relative changes, i.e. whether the value has increased, decreased or has not changed during the specified month. Each of the values used for the index calculation is given a certain weight.
The index value above 50 indicates the industry growth, and below 50 is an indication of slowdown. The index growth can have a positive effect on AUD quotes.