Whilst many of our readers and not totally reliant on print for 100% of their income, this report is still disturbing.
The June quarter data covering new capital expenditure showed that investments grew by 4.5 per cent in the printing industry compared to the previous quarter. Despite the increase, new capital investment figures are yet to recover to levels experienced in the past. Compared to the same period a year earlier, the June 2011 reported outcome represents a 45.9 per cent deterioration.
In monetary terms during the year to June 2011 total new capital expenditure stood as $194 million compared to $462 million for the same period a year earlier. The year-on-year results represent a deterioration of 58.0 per cent.
Based on industry expectation data, some $170 million worth of new printing investments are currently in the industry's investment pipeline for the next 12 months.
Printing industry sales data also shows a similar pattern with improvements reported for the June quarter of 0.5 per cent compared to the previous quarter. But when compared to the same period a year earlier, there has been a decline in printing industry sales of 1.0 per cent. During the year to June, total printing industry sales stood at $8,460 million representing deterioration of 2.0 per cent on the previous year's total sales figure of $8,636 million.
The final set of major economic data released show that printing industry gross value added, which is used as a barometer to measure industry growth, improved by a very modest 0.2 per cent during the June 2011 quarter compared to the previous quarter.
However, when compared to the same period a year earlier, the situation is rosier as there has been a reported improvement of 1.7 per cent. For the full year to June 2011, the industry's gross value added stood at $4,461 million representing deterioration of 0.2 per cent.
The Australian economy grew in trend terms by 0.2 per cent during the June 2011 quarter and by 1.1 per cent during the year to June. Public and private consumption expenditure; investment in dwellings and machinery and equipment all made positive contributions to growth whilst next exports (exports less imports) detracted from growth.
Sectors making positive contributions to growth on a trend basis included construction, wholesale trade, transport, postal and warehousing, professional, scientific and technical services, and ownership of dwellings. The manufacturing sector made no contribution to growth.
At the state and territory level, economic growth measured in terms of state final demand showed significant differences. In trend terms, the mining states of Western Australia and Queensland reported solid annual rates of growth of 7.7 per cent and 4.8 per cent respectively; the Australian Capital Territory reported an annual growth rate of 5.9 per cent; the two largest states - New South Wales and Victoria grew at a more modest rate of 1.8 per cent and 2.5 per cent respectively; South Australia and Tasmania also reported modest annual growth rates of 2.3 per cent and 2.1 per cent respectively; while Northern Territory contracted by 2.6 per cent.
Printing Industries National Manager for Policy and Government Affairs, Hagop Tchamkertenian, said while there are some welcome signs emerging, printing industry trading conditions continue to be fragile.
"To put the short term reported improvements in a proper perspective you need to compare the data over a longer timeframe such as a year or so as opposed to the most recent quarter. When that is done, the reported improvements in the short term quickly evaporate," he said.
"Take the sales figures as an example. They have registered successive quarterly modest improvements which is an encouraging development. But in terms of representing a sustained recovery, the latest sales figures are still down by more than 21 per cent when compared to the pre-GFC sales levels.
"The deterioration in sales of $176 million during the full year to June 2011 compared to the same period a year earlier means that the industry lost the capacity to support some 880 full time jobs during the past 12 months.
"Also the industry gross value added figures, despite showing three consecutive quarters of growth on trend basis, also reveal a sharp slowdown in printing activity levels during the June 2011 quarter. The latest quarterly data can only be described as anaemic growth," Mr Tchamkertenian said.
PIIA
www.printnet.com.au
The June quarter data covering new capital expenditure showed that investments grew by 4.5 per cent in the printing industry compared to the previous quarter. Despite the increase, new capital investment figures are yet to recover to levels experienced in the past. Compared to the same period a year earlier, the June 2011 reported outcome represents a 45.9 per cent deterioration.
In monetary terms during the year to June 2011 total new capital expenditure stood as $194 million compared to $462 million for the same period a year earlier. The year-on-year results represent a deterioration of 58.0 per cent.
Based on industry expectation data, some $170 million worth of new printing investments are currently in the industry's investment pipeline for the next 12 months.
Printing industry sales data also shows a similar pattern with improvements reported for the June quarter of 0.5 per cent compared to the previous quarter. But when compared to the same period a year earlier, there has been a decline in printing industry sales of 1.0 per cent. During the year to June, total printing industry sales stood at $8,460 million representing deterioration of 2.0 per cent on the previous year's total sales figure of $8,636 million.
The final set of major economic data released show that printing industry gross value added, which is used as a barometer to measure industry growth, improved by a very modest 0.2 per cent during the June 2011 quarter compared to the previous quarter.
However, when compared to the same period a year earlier, the situation is rosier as there has been a reported improvement of 1.7 per cent. For the full year to June 2011, the industry's gross value added stood at $4,461 million representing deterioration of 0.2 per cent.
The Australian economy grew in trend terms by 0.2 per cent during the June 2011 quarter and by 1.1 per cent during the year to June. Public and private consumption expenditure; investment in dwellings and machinery and equipment all made positive contributions to growth whilst next exports (exports less imports) detracted from growth.
Sectors making positive contributions to growth on a trend basis included construction, wholesale trade, transport, postal and warehousing, professional, scientific and technical services, and ownership of dwellings. The manufacturing sector made no contribution to growth.
At the state and territory level, economic growth measured in terms of state final demand showed significant differences. In trend terms, the mining states of Western Australia and Queensland reported solid annual rates of growth of 7.7 per cent and 4.8 per cent respectively; the Australian Capital Territory reported an annual growth rate of 5.9 per cent; the two largest states - New South Wales and Victoria grew at a more modest rate of 1.8 per cent and 2.5 per cent respectively; South Australia and Tasmania also reported modest annual growth rates of 2.3 per cent and 2.1 per cent respectively; while Northern Territory contracted by 2.6 per cent.
Printing Industries National Manager for Policy and Government Affairs, Hagop Tchamkertenian, said while there are some welcome signs emerging, printing industry trading conditions continue to be fragile.
"To put the short term reported improvements in a proper perspective you need to compare the data over a longer timeframe such as a year or so as opposed to the most recent quarter. When that is done, the reported improvements in the short term quickly evaporate," he said.
"Take the sales figures as an example. They have registered successive quarterly modest improvements which is an encouraging development. But in terms of representing a sustained recovery, the latest sales figures are still down by more than 21 per cent when compared to the pre-GFC sales levels.
"The deterioration in sales of $176 million during the full year to June 2011 compared to the same period a year earlier means that the industry lost the capacity to support some 880 full time jobs during the past 12 months.
"Also the industry gross value added figures, despite showing three consecutive quarters of growth on trend basis, also reveal a sharp slowdown in printing activity levels during the June 2011 quarter. The latest quarterly data can only be described as anaemic growth," Mr Tchamkertenian said.
PIIA
www.printnet.com.au
