How has the energy price shock impacted Australian industry?
Many manufacturers are energy-intensive, and manufacturing businesses are on the front-line of soaring global energy prices. To understand how energy price rises are impacting industry, Ai Group sought feedback from businesses in the manufacturing sector and the responses were sobering.
More than half of the 78 manufacturers who were contacted reported that they have already suffered significant negative effects from rising energy prices, with expectations that greater difficulties are to come over the next year. Only one in six said they can substantively pass-on rising energy prices.
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