The deindustrialisation of Australia
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A month ago, I reported on the Department of Climate Change, Energy, the Environment and Water’s Australian Energy Update 2026.
The data showed that energy consumption by the manufacturing sector shrank by 2.5% annually over the past decade:

The decline in energy use in the manufacturing sector has been broad-based across its sub-sectors:
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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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