The Australian PMI is out this morning and it’s great news with the manufacturing productivity drive surging to new highs, down 1.2 points to 44.4:
Even better, those sub-sectors that bounced in February fell back towards greater productivity drives in March (as expected after a Chrissy binge that inefficiently increased trade):
Most promising of all, it was in the export facing sub-sector where productivity enhancement was most obvious and the trend appears to be going parabolic:
The internals in general were also productivity awesome:
Dunn and Bradstreet reported today that manufacturing capex intentions collapsed to new lows in the June quarter. That should boost productivity even further, all the way to extinction.