PCI: Construction funk deepens

Tuesday, 7 August 2012

Here’s the July PCI, about which I have previously expressed doubts whether it is correctly measuring engineering work. Anyways, even if biased towards dwelling construction, it kicked downwards in July:

And employment sank to its lowest level in the past few years:

Binder 1

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.