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

The automotive sector is the cornerstone of Australian manufacturing, and manufacturing is the cornerstone of the Australian economy. The global recession hit our manufacturing sector hard, and companies and workers have responded creatively to minimise the loss of skills and capacity. The industry is now in a position to take advantage of the recovery and new opportunities in major markets like those in China.

The Australian Industry Group’s Performance of Manufacturing Index hit 54 last month. I am sure senators would be aware that a reading of above 50 indicates that the activity is actually expanding. The index has been in positive territory for six of the last seven months. While manufacturing still faces many challenges, over the past 18 months it has given us a vivid demonstration of its resilience, its capacity for innovation and its continuing value to the Australian economy. (Time expired)